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Bank of America Announces Mortgage to Lease Pilot Program

April 2, 2012: 

On March 23, 2012, Bank of America (BoA) announced that it was going to be offering a limited number of delinquent borrowers an opportunity to leaseback their homes after agreeing to execute a deed-in-lieu of foreclosure.

Legislation to Extend Expiring Relief Introduced

April 2, 2012: 

Three bills have been introduced by members of the tax-writing committees that would extend the 2007 mortgage cancellation relief that is currently scheduled to expire at the end of 2012.

House Financial Services Committee Passes RESPA Home Warranty Bill on Voice Vote

April 2, 2012: 

On Tuesday, March 27, 2012, The House Financial Services Committee passed HR 2446, The RESPA Home Warranty Clarification Act by a voice vote.

Legislation Introduced to Fix Issues with Qualified Mortgage that Would Deny Consumer Choice

April 2, 2012: 

On Thursday March 29, 2012, Congressmen Bill Huizenga (R-MI), Ed Royce (R-CA), Lacy Clay (D-MO), and David Scott (D-GA) introduced "The Consumer Mortgage Choice Act." The legislation fixes issues with the Dodd-Frank Wall Street Reform Act's Qualified Mortgage (QM) provisions.

Property Management Firm Pays $15,000 Fine Following Data Breach

April 2, 2012: 

On March 21st the Massachusetts Attorney General announced that a property management firm was fined $15,000 after the theft of a company laptop containing the personal information of over 600 Massachusetts residents.

More Americans Pay Car Loans Before Mortgages

April 2, 2012: 

Americans are prioritizing their debt payments by opting to pay their car loans before mortgages and credit cards, according to an analysis by credit reporting bureau TransUnion.

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