Bank Of America May Cut 2,100 Mortgage Jobs
Bank of America Corp. is reportedly cutting 2,100 jobs and closing 16 mortgage offices as origination volume declines on rising interest rates. Of...
Credit Suisse Sued For Allegedly Passing ‘Junk’ MBS
Dublin, Ireland-based investment fund Phoenix Light SF Ltd. has reportedly filed a lawsuit against Zurich, Switzerland-based Credit Suisse Group AG over alleged misrepresentations...
Fannie Mae: Consumers Lost Some Confidence In August
Rising interest rates, combined with uncertainty over when the Federal Reserve will start tapering its bond buying program, as well as concerns over...
MBA: Mortgage Credit Availability Dipped In August
Available credit for mortgages dropped slightly in August, an indication that lending standards are tightening, according to the Mortgage Bankers Association's (MBA) Mortgage...
Home Depot Revenue Up On Housing Recovery
Home Depot is raking in the profits, thanks in part to the housing recovery. In a recent interview, Frank Blake, CEO of the...
Mortgage Rates On The Rise Again
After dipping slightly last week, mortgage rates are on the rise again. According to Freddie Mac's Primary Mortgage Market Survey, the average rate...
Steve Antonakes Named Deputy Director Of The CFPB
The Consumer Financial Protection Bureau (CFPB) has appointed Steve Antonakes, previously the agency's acting deputy director, as deputy director. Antonakes joined the CFPB...
CFPB Issues Friendly Reminder To Data Furnishers
The Consumer Financial Protection Bureau (CFPB) has issued a warning to the data furnishers that provide consumer credit information to the credit bureaus,...
CoreLogic: U.S. Home Prices Up 12.4% Since July 2012
U.S. home prices increased 1.8% in July compared to June, and are up a whopping 12.4% compared to July 2012, according to CoreLogic's...
NCUA Files Suit Against Morgan Stanley Over Alleged ‘Faulty’ RMBS
The National Credit Union Administration (NCUA) has filed a lawsuit in federal district court in Kansas alleging that Morgan Stanley & Co. Inc....
Due Diligence Firm Subpoenaed By DOJ Over RMBS Deals
In the years that led up to the financial crisis, Clayton Holdings was a 'major provider of third-party due diligence services' to Wall...
FHFA: Mortgage Interest Rates Increased 0.45% In July
Mortgage interest rates increased 0.45% in July compared to June, according to the Federal Housing Finance Agency (FHFA). The average interest rate on...
RealtyTrac: July Home Sales Up 4% Compared To June
Although rising interest rates have resulted in a decrease in mortgage application volume in recent months, home sales continue to increase, driven mainly...
Freddie Mac: Mortgage Rates Dipped Slightly This Week
Mortgage rates dropped for the first time in five weeks this week, according to Freddie Mac's Primary Mortgage Market Survey. For the week...
MBA: Higher Rates Continue To Impact Mortgage Application Volume
Mortgage application volume continues to decline as interest rates rise, the Mortgage Bankers Association's Weekly Mortgage Applications Survey reveals. Application volume dipped 2.5%...
NAR: Apartment Rents Will Rise As Vacancy Rates Decrease
As mortgage interest rates continue to rise and banks tighten their lending standards, many potential first-time home buyers are finding themselves priced out...
S&P/Case-Shiller: U.S. Home Prices Still Rising, But More Slowly
U.S. home prices rose 2.2% in June, compared to May, and increased 7.1% in the second quarter, compared to the first quarter, according...
Ellie Mae: Lenders Loosened Standards Slightly In July
Banks and other lending institutions continued to relax their lending standards in July, as evidenced by data collected in Ellie Mae's Origination Insight...
Zillow: Mortgage Rates Fall For First Time In Five Weeks
The average rate on a 30-year fixed mortgage fell for the first time in five weeks to reach 4.37% this week, a drop...
LPS: U.S. Home Prices Increased 1.2% In June
U.S. home prices increased 1.2% in June compared to May and were up 8.4% compared to June 2012, according to Lender Processing Services'...