New Mexico Gov. Bill Richardson has signed a bill that repeals Section 7 of the state's Home Loan Protection Act, because it could have imposed assignee liability with regard to manufactured housing home loans.Section 7 was said to be problematic because it was not limited to high-cost home loans. Many in the lending industry expressed concern that the broad language used in the act could seriously hamper manufactured home lending and cash-out refinance lending in the state.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
