The board of directors of North Carolina's State Employees' Credit Union has approved the adoption of a "green" mortgage program that encourages home energy conservation.The green mortgages will offer expanded debt-to-income ratios, a 50% reduction in origination fees, and 100% financing for qualifying members, according to SECU. The mortgages will be available on homes that have received an Energy STAR rating, which indicates that the home's energy efficiency level is at least 15% higher than the minimum requirements of the 2004 International Energy Conservation Code. SECU can be found online at http://www.ncsecu.org.
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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