Organization Root Tag

Mortgage applications increased 0.8% from one week earlier, an indicator of the housing market’s strength as this year comes to an end, according to the Mortgage Bankers Association.

About 4,400 loans started the foreclosure process in November, alongside 176,000 mortgages in active foreclosure.

Sales of previously owned homes fell in November for the first time in six months, suggesting that surging prices and a record-low supply are constraining red-hot demand.

The forbearance rate rose behind slowed economic recovery, according to the Mortgage Bankers Association.

The company was accused of sending borrowers erroneous loan modification information between 2014 and 2018.

The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended.

The Johnny Isakson and David P. Roe Veterans Health Case and Benefits Improvement Act includes a provision that extends eligibility for VA loans to certain full-time National Guard and Reserve members.

The Federal Reserve has already agreed to shut down emergency credit programs funded by the Coronavirus Aid, Relief and Economic Security Act, but Sen. Pat Toomey, R-Pa., and others want Congress to ensure the central bank cannot revive them.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

The proposal builds on guidance the agency gave to Fannie Mae and Freddie Mac earlier this year.