The Department of Housing and Urban Development has rescinded a policy designed to help certain widowed spouses of reverse mortgage borrowers avoid foreclosure.
The Federal Housing Administration Single Family Housing Policy Handbook will now come into effect on Sept. 14, the Department of Housing and Urban Development announced Friday.
Banks want all loans held in portfolio to be classified as ultrasafe regardless of the underwriting characteristics or of a bank's asset size. But consumer activists and independent mortgage lenders are raising red flags ahead of possible Senate Banking action.
Legislators are considering two bills to extend the state's foreclosure mediation program, which helped more than 3,200 homeowners stay in their houses from July 2013 through the end of last year.
Ellie Mae reported net income of $3.6 million for the first quarter, up 350% from the same period a year ago.
WASHINGTON Federal banking regulators are putting pressure on a dozen or more states to begin regulating appraisal management companies within their borders.
The SAFE Transitional License Act would allow registered lending officers to work at independent mortgage banks for 120 days while they complete state testing and licensing requirements.
Fannie Mae and Freddie Mac could require an additional bailout of as much as $157.3 billion in a deep recession, according to the results of stress tests released by the regulator for the U.S.-owned companies.
Housing and the mortgage industry are every bit as important to the U.S. as the national transportation or healthcare systems.
A mortgage title company and a handful of individuals are being sued by the Consumer Financial Protection Bureau and Maryland Attorney General related to an alleged mortgage kickback scheme with banks such as Wells Fargo and JPMorgan Chase.
A House subcommittee approved a bill Wednesday that would redirect money from an affordable housing fund that receives money from Fannie Mae and Freddie Mac into another program run by HUD.
New York Gov. Andrew Cuomo and New York Superintendent of Financial Services Benjamin Lawsky today proposed new regulations for the title insurance industry, including restrictions on meal and entertainment expenses.
WASHINGTON Senate Banking Committee Chairman Richard Shelby offered a few hints Wednesday about what bankers might be able to expect from pending regulatory relief legislation due next month.
When insensitive consumer policies are implemented the result can be a costly compliance violation.
As Ohio spends the last of $570 million in federal money to fight foreclosures, a key question lingers: Did the program work?