Strong Housing Market Expected to Push More Economic Growth

Mortgages

Strong Housing Market Expected to Push More Economic Growth

Strong Housing Market Expected to Push More Economic Growth

The improvements seen throughout the housing market for more than a year now have been considerable, and many experts believe that those positive changes will in turn eventually drive the broader national economy toward similar gains. One such expert is Federal Reserve Board Governor Elizabeth Duke, who says she is optimistic for the state of… Read More

15-Year Mortgages: The New Darling of Homebuyers

Mortgages

15-Year Mortgages: The New Darling of Homebuyers

15-Year Mortgages: The New Darling of Homebuyers

Even today, the most popular type of mortgage financing comes with a 30-year term and fixed interest rates, but another loan type is growing far more popular as a result of the continued low interest rates available nationwide as well. These days, consumers are slowly beginning to favor 15-year fixed-rate mortgages over their 30-year counterparts… Read More

Feds Replace Flawed Foreclosure Review With Vague $8.5 Billion Settlement

Mortgages

Feds Replace Flawed Foreclosure Review With Vague $8.5 Billion Settlement

Feds Replace Flawed Foreclosure Review With Vague $8.5 Billion Settlement

The Independent Foreclosure Review was supposed to be a full and fair investigation of the big banks’ foreclosure abuses, and it was trumpeted as the government’s largest effort to compensate victimized homeowners. Federal regulators, who designed the review, forced banks to spend billions to carry it out. Millions of homeowners were eligible and hundreds of… Read More

Will 2013 Be the Year You Can Finally Get a Mortgage?

Mortgages

Will 2013 Be the Year You Can Finally Get a Mortgage?

Will 2013 Be the Year You Can Finally Get a Mortgage?

The decision to make the jump from renter to homeowner is not an easy one, but a lack of credit availability has been keeping many potential homeowners on the sidelines after the Great Recession. While those with fantastic credit are debating whether or not mortgage rates will go even lower than their current record lows, those… Read More

CFPB’s Latest Proposal Draws Fire From Consumer Groups

Personal Finance

CFPB’s Latest Proposal Draws Fire From Consumer Groups

CFPB’s Latest Proposal Draws Fire From Consumer Groups

The federal agency tasked with protecting consumers from financial distress as a result of troublesome lending practices recently issued a proposal to change mortgage rules, but has drawn significant fire for it. However, unlike most criticism of the federal Consumer Financial Protection Bureau’s proposed regulatory changes, these voices are not those of the lending industry,… Read More

This Week in Credit News: Hackers & Reformers

Personal Finance

This Week in Credit News: Hackers & Reformers

This Week in Credit News: Hackers & Reformers

This week’s news was full of hacks, scandal and some new mortgage reforms that would make shopping around for a home loan much easier. Hackers Post 450K Credentials Apparently Pilfered From Yahoo Late Wednesday night, news broke that more than 450,000 Yahoo account credentials had been leaked in an effort to make a “wake-up call”… Read More

Mortgage Lender Accused of Favoring Congress Members

Personal Finance

Mortgage Lender Accused of Favoring Congress Members

Mortgage Lender Accused of Favoring Congress Members

The company that used to be the largest mortgage lender in the nation but has since fallen into disgrace and been absorbed by Bank of America may have granted unfairly beneficial loans to lawmakers and others in an attempt to gain influence. A new report from the U.S. House of Representatives shows that Countrywide Financial… Read More

5 Red Flags of the Next Mortgage Crisis

Mortgages

5 Red Flags of the Next Mortgage Crisis

5 Red Flags of the Next Mortgage Crisis

What will the next mortgage meltdown look like? For years, some financial analysts have worried that the 2008 financial crisis wasn’t unique. Rather, what if the mortgage crash merely exposed a beehive of fundamental problems in our economy that still exist today? Here are some of the competing theories about how these lingering problems might… Read More

Mortgage Giant Requests Another $7.6 Billion from Taxpayers

Mortgages

Mortgage Giant Requests Another $7.6 Billion from Taxpayers

Mortgage Giant Requests Another $7.6 Billion from Taxpayers

Fannie Mae, the government-owned mortgage giant, is asking taxpayers for another $7.8 billion to cover the company’s losses from July through September, the Associated Press reports. The company lost $7.6 billion during the third quarter. Fannie already has received $112.6 billion in taxpayer money, the most expensive bailout of any company to result from the… Read More

Delaware AG Sues Mortgage Registry

Mortgages

Delaware AG Sues Mortgage Registry

Delaware AG Sues Mortgage Registry

Delaware Attorney General Beau Biden today filed suit against Merscorp, Inc., overseer of a national mortgage database used by banks when buying and selling loans. According to a statement from Biden’s office, MERS allegedly engaged in “deceptive trade practices,” knowingly obscuring information from borrowers and providing them “frequently inaccurate” information. Created by large banks, Fannie… Read More

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