Mortgages

CitiMortgage has introduced a reduced mortgage payment program for qualifying servicemembers who have to permanently relocate and need immediate financial relief.

The cities of San Bernardino, Ontario and Fontana have passed resolutions to purchase the underwater loans of city residents and Mortgage Resolution Partners will refinance the loans.

The FHFA said that half of all borrowers who received loan modifications in the first quarter had their monthly payments reduced by over 30%, and one-third included principal forbearance.

While other major developments have gone to seed during the housing recession, Stapleton, Colo., has flourished as the new town is on track to record its third best sales year ever in 2012.

The Consumer Financial Protection Bureau is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.

The U.S. Supreme Court has decided it "improvidently granted" a writ of certiorari in First American v. Edwards, and has in essence kicked the case back to the trial court.

The operators of an allegedly deceptive mortgage modification business will pay more than $750,000 in ill-gotten gains to settle Federal Trade Commission charges. The settlements also permanently ban the 11 defendants from selling any mortgage assistance relief products.

The Federal Savings Bank in Overland Park, Kan., said it will open its national home loan center in Chicago's West Loop neighborhood and staff it with as many as 400 new employees.

Despite recent advances by credit scoring companies, the mortgage industry still questions whether credit scores can be relied on to predict borrower behavior.

Despite 12 years of education to the industry, there are still a lot of misconceptions out in the trenches about what e-mortgages are and where they can be used.

Fitch Ratings has downgraded seven classes from six different Home Equity Conversion Mortgage securitizations.

Ellie Mae’s secondary stock offering priced higher than expected and at $17 per share, will raise between $48.16 million and $55.36 million, after expenses, for the mortgage technology vendor.

Fitch Ratings has found that several types of U.S. structured finance assets have been performing way better than expectations, even far better than has been widely reported.

To expedite the legislative process, House and Senate leaders are trying to combine three major bills, including a flood insurance bill, into a single package that both chambers can pass before Congress leaves for its July 4 recess.

Interest rates for the 30-year and 15-year fixed-rate mortgage matched their all-time lows as the 30-year FRM was unchanged from last week's 3.66%, while the 15-year FRM fell one basis point to 2.94%.

Integra Group Real Estate has started an affiliate company to assist investors and asset managers with property preservation efforts.

After shunning homebuilders for the last five years, investment capital is starting to find its way back into the new home market.

It’s fascinating to look under the hood of a particular deal and see all the moving parts that make it possible.

The Consumer Financial Protection Bureau is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.

Once the industry realized just how horrible the housing crisis was, discussions about REO-to-rental and deed-for-lease strategies became popular and the debate continues today.