Investigations, lawsuits target Beazer Homes

Builder Beazer Homes USA Inc. (NYSE: BZH) announced this week that the U.S. Securities and Exchange Commission is investigating whether company officials or business entities have violated federal securities laws, adding to its list of legal troubles.  more...

Senator urges federal regulation of mortgage brokers

A bill that would increase federal oversight of mortgage brokers and a separate proposal to provide $300 million to nonprofit groups that help troubled borrowers is the "first major legislation to deal with the subprime foreclosure crisis as a weakening U.S. housing market threatens the overall economy," says author Sen.  more...

More layoffs at New Century

With no buyer in sight, bankrupt subprime lender New Century Financial Corp. laid off 2,000 workers Thursday, leaving the company with a skeleton crew of 250 who will stay on the job as the company liquidates itself.  more...

New Mexico investigates title insurance rates

New Mexico will commission a study of title insurance rates in nearby states and is revamping a task force that was formed to examine title insurance practices in the state.  more...

Overnight real estate rates still weak

Long-term mortgage interest rates were mostly flat again Thursday, and the benchmark 10-year Treasury bond yield climbed to 4.67 percent.

The 30-year fixed-rate average stayed at 5.76 percent, and the 15-year fixed rate inched up to 5.5 percent. The 1-year adjustable held at 5.6 percent.

The 30-year Treasury bond yield increased to 4.84 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...

Maryland can't keep up with loan officer licensing

Maryland's new licensing requirements for mortgage loan originators have created a backlog of applications awaiting approval by regulators.

The state, which had an estimated 12,000 mortgage loan officers in 2005 when the law requiring licensing was passed, started taking applications from mortgage officers in July, The Gazette of Gaithersburg reports.

By the time the law took effect in January, 5,500 loan officers had been licensed, and as of April 24 regulators had approved 8,  more...