HUD Secretary Ben Carson told lawmakers that overly rigid False Claims Act enforcement had forced lenders to suffer financially for what were just minor errors, but that lenders' fears of being sued were dissipating.
Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.
While the industry continues adopting digital mortgage methods, homebuyers expect to be able to apply for a mortgage and complete the application online, but still want human interaction, according to Ellie Mae.
Close to a third of all home purchases were made by millennials over the past year, but tight inventory and affordability issues prevented them from reaching their buying potential, according to the National Association of Realtors.
As housing demand continues outpacing supply, tight inventory is plaguing potential buyers and putting upward pressure on home prices. Here's a look at the housing markets where supply is shrinking the most.