Government-backed mortgage loans with "buydown" features cannot be included in Ginnie Mae I securities, but they can be included in Ginnie Mae II fixed-rate securities, according to an agency official. MortgageWire incorrectly reported Dec. 5 that buydown loans are not permitted in Ginnie Mae mortgage-backed securities.
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
