The delinquency rate on home equity loans fell 42 basis points in the third quarter, reflecting overall improvement in the consumer credit sector, according to the American Bankers Association.The delinquency rate on home equity loans dropped from 2.75% in the second quarter to 2.33%. However, past-due accounts among home equity lines of credit increased slightly to 0.46%, from 0.43% in the second quarter, according to the ABA survey. The delinquency rate on mobile home loans fell from 3.74% to 3.31%. ABA chief economist James Chessen said that despite improvement in consumer credit overdue rates, there are still "signs of financial stress" related to rising short-term interest rates, higher fuel prices, and last year's hurricane season. The ABA can be found on the Web at http://www.aba.com.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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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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