New Home Sales Jump 18.6% In May: Biggest Increase Since January 1992
Sales of new single-family homes jumped 18.6% in May to reach a seasonally adjusted annual rate of 504,000, according to the U.S. Census...
FHA Warns Lenders: Don’t Mislead Borrowers On Reverse Mortgages
The Federal Housing Administration (FHA) is warning lenders to make certain that senior borrowers are fully informed of all their options when applying...
SunTrust To Pay $968 Million To Settle Faulty Mortgage, Servicing Claims
SunTrust Banks will pay $968 million to resolve federal and state claims that it sold faulty mortgages to investors, as well as to...
Castro: It’s Possible To Loosen Credit And Keep FHA Solvent
During a confirmation hearing held Tuesday before the Senate Banking Committee, a calm and cool Julian Castro, President Barack Obama's nominee to head...
Fed To Continue Tapering; No Change In Policy
The Federal Reserve will continue to taper its bond-buying program by another $10 billion per month come July, reducing its purchase of agency...
May Housing Starts Fell Short Of Forecasts
Housing starts fell short of forecasts in May, as home builders remained cautious due to lackluster home sales so far this year. What's...
Two More CFPB Officials Set To Testify In Discrimination Probe
The House Financial Services Oversight and Investigations Subcommittee last week subpoenaed two more employees of the Consumer Financial Protection Bureau (CFPB) who claim...
Negotiations Stall Between BofA, Justice Department: Report
Negotiations over a multibillion-dollar settlement deal between Bank of America and the Justice Department concerning the bank's role in the mortgage crisis reportedly...
Former NFL Player Irving Fryar Offered Plea Deal In Mortgage Fraud Case
Former NFL wide receiver Irving Fryar and his mother, Allene McGhee, have reportedly been offered a plea deal in connection with charges of...
House Passes Mortgage Choice Act
The U.S. House of Representatives on Monday unanimously approved the Consumer Mortgage Choice Act, which is engineered to improve access to credit and...
Wells Fargo Loses Appeal To Overturn Settlement With FHA
A federal appeals court judge in Washington has reportedly tossed Wells Fargo's request that the court overturn a 2012 settlement with the Federal...
Commercial/Multifamily Mortgage Debt Rose In Q1, But Delinquencies Declined
Commercial and multifamily mortgage debt outstanding hit a new high in the first quarter as delinquency rates continued to decline. According to the...
How Home Buyers Are Impacted By Private Mortgage Insurance
TD Bank has found that private mortgage insurance (PMI) has affected home buyers' home purchasing decisions, as a large percentage of buyers felt...
Capital One Bank Expands With Multifamily Finance Business
Capital One Bank, a subsidiary of Capital One Financial Corp., has introduced Capital One Multifamily Finance, a commercial real estate organization that combines...
Fay Servicing Launches Mortgage Origination Division
Special servicer Fay Servicing recently launched a new mortgage origination division that will focus on retail and correspondent loans. The new division will...
Massachusetts Accuses Fannie, Freddie Of Blocking Buyback Programs
The State of Massachusetts has filed a lawsuit against government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, accusing them of blocking foreclosure buyback...
Caliber Home Loans Introduces Non-Agency Mortgage Products
Caliber Home Loans has unveiled its Non-Agency Alternative program, which offers expanded guidelines and qualifying considerations for asset depletion to eligible, qualified borrowers,...
Task Force: 40,000+ Blighted Detroit Homes Need To Be Razed
Detroit's Blight Removal Task Force has issued a report showing that about 84,000, or 20%, of the city's homes are in some state...
Alabama Real Estate Company Fined $500K For RESPA Violations
RealtySouth, the largest real estate firm in Alabama, will pay $500,000 in civil penalties to the Consumer Financial Protection Bureau (CFPB) for failing...
Fed To Taper Again; Still Developing Plan For Normalizing Policy
Members of the Federal Open Market Committee (FOMC) voted April 29-30 to continue tapering the Federal Reserve's bond buying program - thus curtailing...