Mortgage Finance News

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

CFPB Official Previews Final Mortgage Servicing Rule

DALLAS — The Consumer Financial Protection Bureau is expected to finalize its second round of mortgage servicing rules in July, a top agency official …

Mortgage assistance program gets $383.3 million to help struggling homeowners

SAN DIEGO (CNS) - A state-managed mortgage assistance program is getting a $383.3 million funding infusion from the federal government to help …

San Diego

US Mortgage Rates Remain Low as Home-Buying Season Starts

Long-term U.S. mortgage rates stayed near 2016 lows this week, potentially good news for the housing market as the spring home-buying season …

Real Estate

Next major issue lenders need to tackle: Cybersecurity

First-time parents trying to finally find a place to call their own, young Millennials looking to make their first big investment or grandparents …

Housing

More Single Women Hunt for Homes, Not Husbands

6:00 am ET<br>April 5, 2016April 5, 2016<p><b>Alayna Tagariello Francis</b> had always assumed she’d marry first, then buy a home. But when she found herself …

New York City

Equifax: First Mortgage Origination Balances in 2015 Increased 42.9 Percent over Previous Year

ATLANTA, April 5, 2016 /PRNewswire/ -- According to data from the March 2016 Equifax <i>National Consumer Credit Trends Report</i>, the total balance of new …

Mortgages

CalHFA Expands Program to Help More Bay Area Residents Become Homeowners

SACRAMENTO, Calif.--(BUSINESS WIRE)--#homebuying--The California Housing Finance Agency today announced a program change that will help more …

Home Ownership

Mobile Banking Grows More Popular

The popularity of mobile banking grew last year, with 43% of adults with mobile phones and bank accounts using their phones for financial activities, according to an annual survey by the Federal Reserve.<p>The share of adults who reported using mobile-banking features increased by 4 percentage points …

Mobile

Hispanic homeownership on the rise

There’s been much focus on millennials and their importance on the housing market, but when we look at where homeownership growth has been the …

Home Ownership

Top 5 Housing Markets Attracting Millennials - Fannie Mae

(Albert Pego/Shutterstock.com)<p>Uncategorized<p><i>According to a</i> <i>CoreLogic</i> <i>survey that measured 70 metrics considered key to young buyers (like having young</i> …

Real Estate

Growing Sales to First-Time Homebuyers this Spring

Millennials and other new households should be camping out at open houses, if history is any guide.<p>Mortgage rates are low, averaging four percent. …

So You Wanna Buy a House? Step 2: The Down Payment

Scratching together a down payment is probably the most daunting hurdle to buying a home—and there are boatloads of them! But that’s why we’ve …

Money

Freddie Mac Sold $1.4B in Nonperforming Loans

Freddie Mac has sold $1.4 billion in deeply delinquent, nonperforming loans.The Nationstar Mortgage-serviced loans were offered as seven separate …

How to Get the Most Out of Mortgage Rewards

Borrowers who get a $2.5 million mortgage from CapitalOne can fly away, literally, with one million air-travel miles, enough to circle the earth 40 times. But is it worth it?<p>From air miles to rebates to lower interest rates, some lenders offer a variety of rewards to customers who get or refinance …

Bank of America

Fannie Mae, Freddie Mac finally set to reduce mortgage balances

After years of speculation and equivocation, <b>Fannie Mae</b> and <b>Freddie Mac</b> will begin to cut the mortgage balances for a number of homeowners later this …

Freddie Mac: 4 financial hurdles blocking homeownership

Nearly three quarters of renters think that renting is a more affordable choice than homeownership, even though, according to the facts, it’s more …

Homebuyer beware: FTC, Realtors issue warning on mortgage closing cost phishing scheme

Buying a home is a complex process for consumers. There are a number of moving parts, many of which may be unfamiliar to them.<p>Consumers put their …

The CFPB's enforcement approach is smothering innovation in the mortgage industry

I've attended several mortgage industry conferences recently and a common theme is that the tsunami of disruption sweeping every other existing …

Introducing America’s Most Influential Mortgage Experts

Entering a mortgage is often the biggest financial transaction any of us will ever make. Whether you’re a first-time buyer, moving up in the real …

The math behind the need for GSE reform

In a recent speech, <b>Federal Housing Finance Agency</b> Director Mel Watt raised concerns about the ongoing conservatorship of <b>Fannie Mae</b> and <b>Freddie Mac</b> …

Zillow: Mortgage interest rates remain near 3-year low

Mortgage interest rates ticked up ever so slightly last week but still remained near a 3-year low, according to a new report from <b>Zillow</b>.<p>Zillow’s …

Despite $1.2B settlement, Wells Fargo still facing DOJ probe into mortgage operations

Despite recently agreeing to a $1.2 billion settlement with the federal government to resolve claims related to its <b>Federal Housing Administration</b> …

Feb 16, 2016

CHERRY HILL, N.J., Feb. 16, 2016 /PRNewswire/ -- Almost a decade after the U.S. housing bubble burst, property values are making homeowners more …

Bank of America now offers 3% down mortgages without mortgage insurance

<b>Bank of America</b> unveiled a new affordable mortgage program that offers consumers the option of putting as little as 3% down and requires no mortgage …

TRID tanked originations in Q4

A sharp drop in purchase loan originations in the fourth quarter of 2015 -- the product of compliance challenges posed by the implementation of the …

Mortgage servicers feel burden of regulatory pressure

If there’s one unofficial yet overriding theme of this year’s National Mortgage Servicing Conference sponsored by the <b>Mortgage Bankers Association</b>, it …

Rocket Mortgage Super Bowl Ad Criticized for Encouraging Another Housing Crisis

Says getting a mortgage should be like buying shoes.<p>With few exceptions, Super Bowl 50 was chock full of head-scratching advertisements that made people wonder <i>did they really spend $5 million on those 30 seconds?</i><p>One such ad, by mortgage lender Quicken Loans, wanted to clue consumers in about its …

Mortgages

Will mortgage rates fall in 2016?

Here we go again. Another year lies ahead and with it the widespread view that mortgage rates will surely climb. After all, the Federal Reserve has …

How Should You Manage Your Money? And Keep It Short

Managing your money should be pretty straightforward, but that doesn’t make the task all that easy.<p>That’s the biggest takeaway from the handful of simple financial instruction lists making the rounds among the New Year’s resolution set.<p>One list comes in the form of a 4-by-6 notecard that went viral …

Money