Mortgage Finance News

By Sara Sutachan | Relevant news pertaining to real estate finance.

House set to vote on law to dismantle Dodd-Frank

The House of Representatives is set to consider the Republican-led Financial CHOICE Act, H.R. 10, next Wednesday, which is the leading option to …

Housing

Trump Treasury pick: Fannie Mae and Freddie Mac will be privatized

After President-elect Donald Trump announced that he selected Steve Mnuchin, a former executive at <b>Goldman Sachs</b> and former chairman of <b>OneWest Bank</b>, …

San Diego Home Prices Rising, But Mortgage Rates Could Dampen Sales

The recovery in the housing market continued in October with prices rising in San Diego and across California, but increasing mortgage rates may slow …

No change in Fannie, Freddie loan limits, despite home price jump

Home prices have risen sharply, but not enough to trigger an increase in the maximum loan that can be purchased or guaranteed by Fannie Mae and …

Federal National Mortgage Assctn Fnni Me : FHFA raises conforming mortgage loan limit to $424,100 | 4-Traders

Last week, mortgage broker and Inman writer<p>Lou Barnesopined that it was time for theFederal Housing Finance Agency(FHFA) to consider raising the …

Morning Briefing: Realtors react to new conforming loan limits for 2017

Most Read<p>While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be …

Real Estate

Wells Fargo hit with new sanctions following fake-accounts scandal

A federal regulator has tightened restrictions on Wells Fargo & Co., requiring it to get approval to replace or hire new executives and make other changes, in the latest fallout over the San Francisco bank’s fake-accounts scandal.<p>Late Friday, the Office of the Comptroller of the Currency, one of …

Banking

Trump unveils plan to dismantle Dodd-Frank Act

Now that the dust is starting to settle from the election, a clearer picture is beginning to emerge of what types of actions President-elect Donald …

Real Estate Professionals Influence Clients' Mortgage Lender Choice

MCLEAN, VA--(Marketwired - Nov 4, 2016) - Most real estate professionals refer clients to a select group of lenders and they choose those companies …

FHA to Lower Owner-Occupancy Requirement for Certain Condominium Developments

WASHINGTON - The Federal Housing Administration (FHA) today announced that, under certain circumstances, it will lower its required owner-occupancy …

Condominiums

Structure of CFPB Ruled Unconstitutional

The U.S. Court of Appeals for the District of Columbia on Tuesday ordered a restructuring of how the Consumer Financial Protection Bureau (CFPB) …

How your credit score affects your mortgage rate

Without a high credit score, you won’t qualify for the best mortgage rates available, which could mean you’ll end up paying more money over the term of your mortgage. Even with rates at historic lows right now, the difference between 3.5% and 3.75% can add up, especially if you’re applying for a …

Mortgages

FHA Opens Door for 'Spot Approvals' for Condo Loans

WASHINGTON — The Federal Housing Administration issued a proposal Tuesday that would make it easier for lenders to secure government guarantees for …

Consumers Are Unaware of Low-Down-Payment Loan Options

Affordability constraints and a lack of awareness about low-down-payment mortgage options are tempering confidence about buying a home, according to …

Where can I get my credit score?

You actually have more than one credit score. Credit scores are calculated based on the information in your credit reports. If the information about …

DPR Homeownership Program Index released: Nearly 2,500 Programs Available to Homebuyers

<b>Homeownership Program Funding Up Slightly; Nearly 2,500 Programs Available to Homebuyers</b><p><b>Atlanta, GA, June 9, 2016</b> – Atlanta-based Down Payment …

Supreme Court to consider Miami's predatory lending suit against Bank of America, Wells Fargo

The U.S. Supreme Court announced Tuesday that it will hear arguments during its next term on whether the city of Miami can sue <b>Bank of America</b> and</b> …

California Home Prices Expected To Climb Even Higher Annually

CoreLogic's June report finds that loan refinancing doesn't make sense for a lot of current homeowners in the U.S. Forecasts predict mortgage rates …

LA Foreclosure Activity Down More Than 20 Percent In One Year

A sure-fire sign of an improving real estate market is the fall of foreclosure activity, and luckily those trends are down throughout the nation for …

Are Subprime Mortgages Back, And What's It Mean If They Are?

I’m going to try to be cheerful about this, but I’m not. I got invited last week to a very fancy small luncheon with a top Wall Street …

The Catch-22 Facing Young Homebuyers

The complex millennial generation stirs up a lot of talk in the mortgage industry, mostly because they have come to be known as the financially …

Down Payment Assistance Programs Save Qualifying Homebuyers More Than $17,000 on Average Over Life of Loan - Newsroom and Media Center

<i>Average Assistance Covers 3 Percent Down Payment in 82 Percent of 513 Markets Analyzed;</i> <i><br>Average Assistance Short of 3 Percent Down in NYC, DC, Salt</i> …

Financial firms lead stocks lower after a weak jobs report

Banks and other financial companies led a modest decline in U.S. stocks Friday after a report indicating that hiring slowed sharply in May put investors in a selling mood.<p>The market slide snapped a two-day winning streak and sent bond prices surging as investors sought safety in U.S. …

Markets

California Realtors Press FHA for Direction on PACE Liens

The California Association of Realtors has renewed its push for promised Federal Housing Administration guidance that would make Property Assessed …

A Big Surprise for Lenders in Trended Mortgage Data

When a consumer refinances or pays off her house in preparation for moving, you might expect her to reduce other debts to help get the new mortgage …

Court Wins Set Important Precedent for Paperless Mortgages

Two recent court rulings affirmed that lenders can enforce electronically signed and transferred notes, laying important groundwork for wider …

FHA Proposes New Consumer Protections on Reverse Mortgages

The Department of Housing and Urban Development issued a proposal Wednesday to codify recent changes to its reverse mortgage program and to provide …

Attorney General Kamala D. Harris Issues Consumer Alert on Mortgage Loan Modification Scams

Los Angeles, California - Attorney General Kamala D. Harris issued a consumer alert today to warn homeowners about mortgage loan modification scams. …