The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association. Continue reading
Lawmakers are demanding a federal investigation in the wake of a CNN analysis that concluded the nation’s largest credit union denied more than 50 percent of Black mortgage applicants in 2022. Continue reading
PACE loans can burden homeowners with higher property tax bills that heighten the risk they’ll get behind on their mortgages, federal regulators say. Continue reading
Despite lobbying by mortgage trade groups, two previous bills failed to attract cosponsors and died in the House Committee on Financial Services without a second reading. Continue reading
The CFPB alleges mortgage servicers charged excessive late fees, assessed “fake” private mortgage insurance premiums and made homeowners pay for unnecessary inspections. Continue reading
Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least seven years, in some cases leading customers to lose their homes. Continue reading
CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren’t fully informed of their options. Continue reading
No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading
Wells Fargo has agreed to pay a $250M fine after an investigation by federal banking regulators found fault with its practices for helping homeowners with mortgage problems. Continue reading
Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to in-depth analysis by The Markup, a nonprofit newsroom that’s “watching big tech.” Continue reading