Regulators fire warning shot over bow of mortgage comparison sites
The Consumer Financial Protection Bureau said operators of mortgage comparison-shopping platforms may be violating RESPA if they manipulate search results to coerce kickbacks
by Matt Carter Feb 7
Wells Fargo paying $3.7B to settle mortgage, auto loan allegations
Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least 7 years, in some cases leading customers to lose their homes
by Matt Carter Dec 20
Surveys reveal why some buyers don't shop for a mortgage
Shopping around can save thousands of dollars, but 1 in 3 prospective homebuyers only get a quote from one lender, Fannie Mae surveys show
by Matt Carter Nov 18
Gavel over one hundred dollar bills represents Newrez' settling a complaint
CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren't fully informed of their options
by Matt Carter Nov 17
CredEvolv coaches homebuyers to help them qualify for mortgages
Integration with Freddie Mac's HomeCoach tool lets housing counselors access automated underwriting tools used by mortgage lenders
by Matt Carter Oct 18
UWM now offering mortgages without lender's title insurance
The nation's largest wholesale mortgage lender moves to capitalize on rule changes by mortgage giants Fannie Mae and Freddie Mac aimed at helping borrowers save on their closing costs
by Matt Carter Oct 3
Knock unveils new plan to help homebuyers reduce mortgage rate
Interest-free home equity advances to Knock Home Swap clients can be used to buy down mortgage rate or make a bigger down payment
by Matt Carter Aug 2
Lenders gearing up to help renters become homebuyers
New technology and policy changes at Fannie Mae and Freddie Mac spur innovations by Guild Mortgage and Ready Life to help borrowers without credit scores and good payment histories
by Matt Carter Jul 26
More restrictions expire, ushering in new wave of home foreclosures
The number of homes with foreclosure filings rose 29% in January as lenders took advantage of expiring federal restrictions, according to new data from Attom Data Solutions
by Daniel Houston Feb 10
Credit report errors are harming mortgage borrowers: Fed watchdog
Credit bureaus have 'little incentive to treat consumers fairly when their credit reports have errors,' according to Consumer Financial Protection Bureau, which analyzed 700K complaints
by Matt Carter Jan 6
It's the end of the road for LIBOR mortgages
Regulators spell out rules for transitioning ARM borrowers to other indexes by 2023
by Matt Carter Dec 7
Wells Fargo fined over mortgage loan modification practices
Wells Fargo has agreed to pay a $250M fine after an investigation by federal banking regulators found fault with its practices for helping homeowners with mortgage problems
by Matt Carter Sep 13
With protections lifting, improvement in forbearance numbers slows
The numbers are headed in the wrong direction for loans that are backed by private lenders rather than the government, according to new survey by the Mortgage Bankers Association
by Matt Carter Aug 24
Take your pick: Encompass handles both old and new qualified mortgage rules
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31
by Matt Carter Aug 18
1.7M homeowners still in forbearance as protections expire
Loan servicers must attempt to work with borrowers before initiating foreclosure proceedings
by Matt Carter Aug 9