As one of the hardest hit states during the real estate downturn, Florida often pops up in market reports as having a noticeably higher foreclosure rate than other states. Even so, the state is also becoming recognized for how quickly some of its marke…
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NAR Finds Income to Qualify for Mortgage Well-Below U.S. Median
Interest rates continue to slide further down alongside the decline in home prices. In addition to these factors improving affordability for homeowners, the National Association of Realtors (NAR) found the amount of income needed to qualify for a mortg…
HUD Reaches $202M Settlement With Deutsche Bank
HUD announced Thursday that it reached a $202 million settlement with Deutsche Bank and Mortgageit over allegations of misconduct and false certifications with a government lender program. The agency said that Mortgageit acknowledged and accepted respo…
CFPB Pursues Screening Standards for Mortgage Originators
The Consumer Financial Protection Bureau unveiled new rulemaking proposals Thursday that would require background checks for mortgage originators and complement a previous rule that prohibits loan officers from steering borrowers to higher-priced produ…
Wells Conducting Background Checks and Fingerprinting Employees
Wells Fargo made a decision to terminate company employees with past criminal records involving dishonesty or breach of trust to comply with , the bank announced Thursday.
The decision to terminate team members over criminal matters that occurred p…
Equator Adds VP of Marketing and Director of Operations
Equator, a default servicing platform provider, announced the addition of two senior executives to keep step with the company’s growth.
Freddie Mac Appoints Private Sector Banking Exec to CEO Post
Freddie Mac said Thursday that its board of directors has selected Donald H. Layton to serve as the company’s new CEO. Layton will join the GSE on May 21, and will also have a seat on the board of directors. In October 2011, the Federal Housing Finance…
LPS: Home Prices Increased, but We’ve Been Down This Road Before
For the first time since March 2010, data from Lender Processing Services (LPS) showed an increase in home prices, but still, the analytics company warned to embrace the positive news with some caution. Nationally, February 2012 seasonally-adjusted pri…
HAMP Expands Eligibility to More Military Members
Starting June 1, military homeowners who are permanently displaced by a job-related move may still be able to be considered owner-occupants when applying for the Home Affordable Modification Program (HAMP). This change means more people could become el…
Rates Continue to Fall Hitting New Lows Amid Economic Concerns
Just when it seemed like rates could not fall any further, Freddie Mac reported fixed mortgage rates sunk even further for the week ending May 10. The 30-year fixed-rate mortgage averaged 3.83 percent (0.7 point), down slightly from last week’s average…
