HUD is not required to disclose flood risk to would-be homebuyers, most of whom didn’t learn that the home they were interested in was located in a flood zone until they were told by their lender that they needed to buy flood insurance. Continue reading
Rising home sales and prices helped title insurers post their best second quarter earnings ever, thanks to lower claims and a surge in premiums. 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 rates have remained largely unchanged in recent weeks, aside from a gradual rise in rates for 15-year loans. Continue reading
Lenders are still anticipating a shift in mortgage lending from refinancing to purchase loans, but it may not be as sudden as anticipated. Continue reading
Rise in home values may also help borrowers who decided to put their mortgage payments on hold during the pandemic. Continue reading
There’s a backstory to Lower that explains why the company believes it can position itself as not just a lender, but “Everything for your home, for Lower.” Continue reading
In what could be a preview of what’s in store if mortgage rates continue to rise, demand for purchase loans remains subdued compared to a year ago. Continue reading
Having put the brakes on the Trump administration’s plans to reprivatize Fannie and Freddie, Democrats have been pushing for the “government sponsored enterprises” to provide more home loans for underserved borrowers. Continue reading
An unlicensed mortgage broker faces up to 30 years in prison after pleading guilty to a fraud scheme in which $4.74 million in mortgage refinancing proceeds were allegedly wired to accounts controlled by the perpetrators. Continue reading