Foreclosure rates are declining nationally but foreclosure times aren’t, at least not much. It took an average of 604 days to process foreclosures in the fourth quarter, down only slightly… Read More »
News
Stricter underwriting guidelines that are making it more difficult for prospective home buyers to qualify for mortgages are also leading more of them to lie on their loan applications. That… Read More »
WASHINGTON (Reuters) – U.S. and state regulators ordered Wells Fargo (WFC.N) and JPMorgan Chase (JPM.N) to collectively pay $35.7 million on Thursday to settle charges that they participated in an… Read More »
Adopt a compliance management system. If you are a frequent reader of our blog, you know that we have emphasized that message over and over and over again. Today, we… Read More »
That summarizes the mortgage industry’s consensus response to the new “Rate Checker” tool the Consumer Financial Protection Bureau (CFPB) announced recently as part of an “Owning a Home Toolkit” designed… Read More »
Congress acted quickly as its new session began to approve a six-year extension of the Terrorism Risk Insurance Act (TRIA). Authorizing legislation for the federal program had expired at the… Read More »
The year began with a strong jolt of positive news: Employers added 252,000 jobs in December, beating estimates, and the unemployment rate declined to 5.6 percent, its lowest level since… Read More »
You don’t often see “pro-consumer” linked to a U.S. Supreme Court decision these days, but that’s an apt description of the court’s unanimous ruling on the right of borrowers to… Read More »
Federal regulatory agencies regularly interpret their regulations through guidance, letters, and memoranda explaining how the rules will be applied. But just how much interpreting and re-interpreting of those rules are… Read More »
President Barack Obama announced that the Federal Housing Administration will cut fees on the mortgages it insures in order to make buying a home less expensive. The annual premium charged… Read More »