The Congressional Hispanic Caucus wants the Department of Housing and Urban Development to revise its RESPA reform proposal before issuing a final rule.In a letter to HUD Secretary Mel Martinez, the caucus argues that the final rule to revamp the department's Real Estate Settlement Procedures Act regulations will hurt minority homebuyers and minority-owned small businesses. "We support HUD's efforts to simplify and improve the process of obtaining mortgages and reducing costs for future homebuyers," the letter says. "However, we believe HUD's final rule will, instead, confuse homebuyers by complicating the home buying process, and increasing the cost of credit thereby hurting the very people it is intended to help." HUD officials declined to comment on the Oct. 17 letter. The Hispanic caucus sent a similar letter to President Bush pledging to work with HUD and the administration on improving the final rule.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28