Housing Secretary Mel Martinez is not going to Rome (as originally planned) to attend Pope John Paul II's 25th anniversary, but he is still not attending the Mortgage Bankers Association of America's annual convention that opens Oct. 19 in San Diego.His replacement, HUD Deputy Secretary Alfonso Jackson, has also pulled out, MortgageWire has learned. A Department of Housing and Urban Development spokesman said Mr. Jackson has a scheduling conflict due to a community renewal conference in Costa Mesa, Calif. MW recently reported that the MBA is backing away from its support of the HUD secretary's Real Estate Settlement Procedures Act reform efforts. And sources are indicating that the cancellations are a result of the fallout between the MBA and the secretary. A HUD spokesman declined to comment on HUD's relations with the MBA, but he stressed that Secretary Martinez is committed to RESPA reform. "We are continuing to refine the proposal to bring balanced mortgage reform to Americans and to the industry," the spokesman said.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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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.
April 25