Home mortgage originations will shrink by up to 20 percent over the next three years if federal regulators proceed with proposed rules, according to a new analysis.
The American Civil Liberties Union announced it would be filing a lawsuit Monday against the investment bank, alleging discrimination in the way the bank packaged subprime mortgage loans into securities.
Mortgages guaranteed by the Department of Veterans Affairs rose 50 percent to almost 540,000 loans in fiscal year 2012.
The government has filed a lawsuit against Wells Fargo, alleging the nation's largest lender has participated in "reckless" lending of government-backed loans, but Wells Fargo insists it's done nothing wrong.
Mortgage rules being drafted by federal banking regulators came under the spotlight last night in the first election debate between President Barack Obama and his Republican challenger, former Massachusetts Gov. Mitt Romney.
In the past 25 years, the mobility rate in America has steadily declined. Last year only 12 percent of the population moved, a troubling economic indicator.
Distressed homes sometimes need a lot of work, and so more lenders are offering loan options to help home owners or investors rehab the properties.
At a press conference he held last week to announce the MBS purchase plan, Federal Reserve Chairman Ben Bernanke said tight underwriting standards, which are keeping otherwise creditworthy households from getting financing, are in fact easing.
Survey findings and an analysis of historic credit scores and loan performance show that a return to safe and sound lending standards would boost home sales and add jobs.