Early responses to our latest survey question -- whether Congress should overturn the OCC pre-emption rules that exempt national banks and their mortgage subsidiaries from compliance with state predatory lending laws -- have been running neck-and-neck.As of midday Friday, the tally stood at 38 in favor and 36 against. To go to the survey, click http://www.nationalmortgagenews.com/nmn/survey.htm.
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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.
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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.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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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.
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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.
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