Mortgage
Home Mortgage
NAR Statement on the Qualified Mortgage Rule
WASHINGTON, D.C. - January 11, 2012 - (RealEstateRama) -- “The National Association of Realtors® applauds the Consumer Financial Protection Bureau for creating a broadly defined Qualified Mortgage rule that establishes strong consumer protections wh...
Five Arrested in Orange County-Based ‘Builder Bailout’ Mortgage Fraud Scheme That Fraudulently Purchased Condos
SANTA ANA, CA - January 11, 2012 - (RealEstateRama) -- Federal authorities have arrested five people allegedly involved in a “builder bailout” real estate scheme that fraudulently purchased more than 100 condominium units around the country with mo...
The Financial Services Roundtable and the Roundtable’s Housing Policy Council’s statement on the CFPB’s...
WASHINGTON, DC - January 11, 2012 - (RealEstateRama) -- The CFPB’s final Ability to Repay/Qualified Mortgage regulation will be a defining force for all mortgage lending. The Roundtable and its Housing Policy Council share the primary goal of the rul...
Attorney General Gansler and Maryland DHCD Award $7.6 Million to Provide Greater Legal Aid...
Baltimore, MD - January 11, 2012 - (RealEstateRama) -- Attorney General Douglas F. Gansler and the Maryland Department of Housing and Community Development (DHCD) today awarded six nonprofit legal aid and assistance organizations more than $7.6 million...
AG Reminds Consumers of Upcoming Claims Deadline in National Mortgage Settlement
Jackson, MS - January 11, 2012 - (RealEstateRama) -- Attorney General Jim Hood reminds Mississippians that all claims applications covered by the National Mortgage Settlement are due January 18, 2013
New Qualified Mortgage Guidelines Released
WASHINGTON, D.C. - January 11, 2012 - (RealEstateRama) -- Community Associations Institute (CAI) is studying the long-awaited federal Qualified Mortgage (QM) standards published Jan. 10 by the Consumer Financial Protection Bureau (CFPB). The new guidel...
New CFPB rules crack down on irresponsible mortgage lending
WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) -- The Consumer Financial Protection Bureau (CFPB) released rules today designed to prevent mortgage lenders from making risky, unaffordable loans. These ability-to-repay rules require that lenders...
NCRC Statement on the CFPB’s Qualified Mortgage Rule
Washington, DC - January 10, 2012 - (RealEstateRama) -- Today, in reaction to the Consumer Financial Protection Bureau’s (CFPB) release of the Qualified Mortgage (QM) rule and the inclusion of a legal “safe harbor” for certain qualified mortgages...
Mortgage Broker Sentenced for Federal Offenses
HONOLULU - January 10, 2012 - (RealEstateRama) -- Estrellita “Esther” Garo Miguel, age 62, a Honolulu mortgage broker who operated the business Easy Mortgage, was sentenced yesterday to 52 months’ imprisonment by Chief United States District Judg...
ICBA’s Karen Thomas Testifies at CFPB’s Field Hearing on Mortgage Policy—Comments on New QM...
Washington, D.C. - January 10, 2012 - (RealEstateRama) -- Karen Thomas, senior executive vice president of government relations and public policy for the Independent Community Bankers of America (ICBA), testified today during the Consumer Financial Pro...
Chairman Hensarling Responds to CFPB’s New Mortgage Rules
Washington, DC - January 10, 2012 - (RealEstateRama) -- Financial Services Committee Chairman Jeb Hensarling made the following comments about the Ability to Repay and Qualified Mortgage rule released by the Consumer Financial Protection Bureau today
Mortgage Ploy – Horne Issues Consumer Warning
PHOENIX - January 10, 2012 - (RealEstateRama) -- Arizona homeowners should be on the lookout for a mailing that appears to be a legal document, but may be a ploy against mortgage consumers, Attorney General Tom Horne said today.
30-Year Fixed-Rate Mortgage Averages 3.40 Percent
MCLEAN, VA - January 10, 2012 - (RealEstateRama) -- Freddie Mac (OTCBB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving higher following December's employment report. The 30-year fi...
Ability To Repay And “QM” Rules Cement New Consumer Mortgage Protections
Washington, D.C. - January 10, 2012 - (RealEstateRama) -- The Consumer Financial Protection Bureau’s (CFPB) release on Thursday of a final rulemaking implementing key provisions of the Dodd-Frank Act cements in place important consumer protections in...
MBA Chairman Debra Still Comments on Qualified Mortgage/Ability to Repay Rule
WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) --Debra W. Still, CMB, Chairman of the Mortgage Bankers Association (MBA), issued the following statement on the final Qualified Mortgage/Ability to Repay rule released today by the Consumer Financ...
Statement from NAHB Chairman Barry Rutenberg on Qualified Mortgage Rule
WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) -- Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla., today issued the following statement regarding the Consumer Financial Pro...
Real Estate Mortgage Network, Inc., Readies HomeBridge Correspondent In Anticipation of 2013 First Quarter...
Edison, NJ - January 10, 2012 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), a privately held national lending institution, announced today that their conduit platform, d/b/a HomeBridge, is nearing their anticipated launch date of Hom...
Real Estate Mortgage Network, Inc., Hires Nationally Known Renovation Lending Expert to Lead New...
Richmond, VA - January 10, 2012 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), one of the largest privately held non-bank lenders in the US, continues to expand its South Atlantic presence with a new office in Richmond, VA. Led by Bra...
MERSCORP Holdings, Inc. December 2012 News Summary
Reston, Virginia - January 10, 2012 - (RealEstateRama) -- Below is a monthly summary of major legal decisions involving either the use of the MERS® System database or Mortgage Electronic Registration Systems, Inc. (MERS) and its role in the mortgage p...
Protecting Borrowers from the Next Lending Crisis: The CFPB’s Rules on Ability to Repay...
WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) -- The Consumer Financial Protection Bureau’s new rules generally strike a balanced, reasonable approach to mortgage lending and implement important consumer protections. The standard CFPB establ...
Bankruptcy Appellate Panel Affirms MERS’ Role
Reston, Virginia - January 09, 2012 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the United States Bankruptcy Appellate Panel of the Tenth Circuit held that Mortgage Electronic Registration Systems, Inc. (MERS) is a mortgagee in i...
Mortgage Applications Increase in Latest MBA Weekly Survey
WASHINGTON, D.C. - January 09, 2012 - (RealEstateRama) -- Mortgage applications increased 11.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Janu...
C.A.R. sponsors bill to help underwater homeowners get much-needed financial relief
LOS ANGELES, CA - January 08, 2012 - (RealEstateRama) -- In an effort to conform state law to a federal law passed last week that extended mortgage debt forgiveness, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is sponsoring Senate Bill 30, so tha...
Branstad, Reynolds Announce New Program that will Allow Iowa Home Buyers to Reduce Federal...
DES MOINES - January 08, 2012 - (RealEstateRama) -- Gov. Branstad and Lt. Gov. Reynolds were accompanied by Iowa Finance Authority Executive Director Dave Jamison today to announce that eligible Iowans can now buy a home and reduce their federal income...
Closing Attorney Charged with Wire Fraud in Mortgage Loan Scheme
BIRMINGHAM, AL - January 08, 2012 - (RealEstateRama) -- Federal prosecutors have charged a Birmingham real estate lawyer with wire fraud in connection with a nearly $1 million mortgage fraud scheme, announced U.S. Attorney Joyce White Vance.
Defendants in Dominican Mortgage Assistance Scam that Allegedly Defrauded Spanish-Speaking U.S. Homeowners Settle FTC...
WASHINGTON, D.C. - January 08, 2012 - (RealEstateRama) -- As part of its continuing crackdown on scams that target consumers in financial distress, the Federal Trade Commission obtained a settlement order resolving charges against a nationwide scam ope...
National Mortgage Servicing Settlement Claims Deadline Approaching
AUGUSTA - January 03, 2012 - (RealEstateRama) -- Attorney General William J. Schneider announced that eligible Maine borrowers who lost their homes due to foreclosure between January 1, 2008 and December 31, 2011 must file a National Mortgage Settlemen...
Mortgage Applications Decrease in Final Two Weeks of the Year
WASHINGTON, D.C. - January 03, 2012 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Application Survey for the two weeks ending December 21, 2012 and December 28, 2012.
CONSTRUCTION SPENDING SLIPS IN NOVEMBER BUT RISES FROM YEAR-AGO LEVEL; ASSOCIATION OFFICIALS PREDICT MORE...
WASHINGTON, D.C. - January 02, 2012 - (RealEstateRama) -- Construction spending dipped from October to November, but resolution of the uncertainty regarding federal taxes for 2013 should unleash more private construction investment, according to an ana...
Federal Housing Finance Agency Reports Mortgage Interest Rates
Washington, DC - December 27, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in so...
