The housing markets in Buffalo, N.Y., and the Texas cities of Brownsville and Lubbock showed the biggest improvements in outlook in the latest mortgage risk index released by United Guaranty Corp., Greensboro, N.C.Brownsville's index ranking plunged from a 9 to a 4, due mostly to a decline in home price appreciation from 6.9% to 3.4%, UGC said. (The quarterly ACUFactor mortgage risk index uses a scale of 1 to 10, with 1 representing the least likelihood that an area will experience a significant decline in key economic indicators.) Lubbock's score fell from 5 to 2, thanks largely to slower price appreciation, and Buffalo's fell from 6 to 3, chiefly due to a spurt in its unemployment rate, the company said. The ACUFactor index projects geographic market risk for the top 200 metropolitan statistical areas over the next four to eight quarters. UGC can be found online at http://www.ugcorp.com.
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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.
April 25 -
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.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
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.
April 25 -
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.
April 25