Foreclosures

Wells Fargo & Co. targets black and Latino borrowers for more costly home loans than their white counterparts in the Chicago area, helping to prolong a local and national foreclosure crisis, the biggest county in Illinois said.

Fannie Mae and Freddie Mac will let borrowers who have gone through foreclosure buy back their homes at market prices under a policy shift announced by the regulator for the two U.S.-owned companies.

The risk that the failure to refinance a loan collateralizing a single-family rental securitization would cascade into a "widespread" decline in property prices is low, according to Moody's Investors Service.

Home prices experienced a 0.01% decline in September, though they are up 4.6% from the same time last year, according to the Black Knight Home Price Index.

The national delinquency rate fell to a seven-year low through October, according to data from Black Knight Financial Services.

The Consumer Financial Protection Bureau issued a proposal Thursday that would institute new foreclosure protections for consumers after the agency found its previous mortgage rules didn't go far enough.

Lawyers for the U.S. and Wells Fargo told a judge they doubt they can reach a settlement in a government lawsuit accusing the bank of home-mortgage fraud, a person familiar with the matter said.

Because the FHFA drew down vast amounts of taxpayer funds to "pay" for accounting provisions that would later be reversed, the GSEs remained saddled with in senior preferred stock that paid a dividend rate of 10%, until that rate was revised upward.

Colony American Finance has acquired a $165 million portfolio of acquisition lines secured by single-family homes from Archetype Credit Opportunity Fund.

Plaintiffs advocating for spousal rights in existing Home Equity Conversion Mortgages are renewing their motion for class certification, citing circumstances surrounding two instances of foreclosures under interim government policy.

The U.S. Supreme Court agreed to hear two Bank of America Corp. appeals that seek to give lenders more leverage over homeowners who file for bankruptcy protection.

The underlying loan is fixed-rate and amortizes on a monthly basis over a term of 10 years, the longest loan tenure to date that has backed a single-family rental securitization.

Mortgage loan delinquency rates through the third quarter fell to their lowest levels in seven years, according to the Mortgage Bankers Association.

Regulators are preparing rules to curb financial risks of expanding nonbank mortgage companies after investigating homeowner complaints that include improper foreclosures and unauthorized fees.

Bank of America Corp. and Citigroup Inc. are selling multiple pools of soured U.S. mortgages to meet demand from investment firms that are pushing prices higher.

Commercial mortgage-backed security delinquencies declined during October, according to Fitch Ratings.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

Continuing housing problems and increasing economic inequality are bringing illness to low-income neighborhoods. To solve the problem, policymakers and financial industry leaders need to develop programs that address the intersecting issues of health and poverty.

Wide-ranging efforts to reform Home Equity Conversion Mortgage lending and servicing practices are designed to close loopholes and resolve policy inconsistencies, but some obstacles remain unresolved and more work needs to be done.

The Hope LoanPort platform has activated a web portal designed to support foreclosure prevention counseling and loss mitigation.