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Mortgage Acts and Practices
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Recent media reports have suggested that the FHFA, Fannie Mae, and Freddie Mac will start to take severe legal action against strategic defaulters. But are mortgage cops really going to chase down these individuals with the goal of locking them up?
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On Oct. 15, 2012, NAR President submitted comments to the CFPB on its loan originator proposed rule.
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Mortgage rates held steady for the most part this week, remaining near all-time record lows set last week.
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On Oct. 20, Fannie Mae will tighten some of its underwriting standards for condo buyers and home owners wanting to refinance. The changes have some in the industry concerned.
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Banks are requiring home buyers to come with higher credit scores and down payments to get approved for a loan, according to new national data.
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Communities that have outgrown a 38-year-old definition of "rural" will continue to be eligible for mortgage assistance while the federal Rural Housing Service transitions to a new way of tracking population and income changes.
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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.
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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.
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Republican presidential contender Mitt Romney released a 6-page white paper on housing policy, but he did not include specifics on how his administration would tackle the five areas he's targeted for action.
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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.