The Mortgage Bankers Association has announced the addition of the Foreclosure Prevention Resource Center to its consumer education site, HomeLoanLearningCenter.com.The center is part of the MBA's effort to advise those who face trouble making their loan payment to contact their loan servicer as soon as possible to determine whether an alternative to foreclosure may be possible based on the borrower's financial and employment status. The bilingual site includes a listing of major loan servicers and their contact information as well as a guide to "Things to Know When You Contact Your Lender" so distressed borrowers can have an informed discussion with their servicer. "The sooner a borrower who is having trouble contacts his or her servicer, the more options they may have to make alternate arrangements," said MBA president and CEO Jonathan L. Kempner. The MBA's consumer education site can be found online at http://www.homeloanlearningcenter.com.
-
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
26m ago -
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.
2h ago -
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.
2h ago -
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
5h ago -
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24