Fannie Mae: Mortgage lenders unnecessarily restrict credit

Fannie Mae: Mortgage lenders unnecessarily restrict credit

Higher credit scores, additional documentation most common

Homeownership rate drops to 48-year low

Despite record sales, fewer Americans own homes

Case-Shiller: Home prices continue rising in May but stall on monthly basis

First-time buyers still weak; Growth to slow over next 2 years
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Servicing

CFPB orders Paymap to repay $33.4 million for deceiving customers

LoanCare also fined for falsely promising savings with biweekly payment program
The Consumer Financial Protection Bureau announced Tuesday that it is ordering Paymap, a Colorado-based payment processing company, to return $33.4 million to consumers for falsely promising mortgage savings to borrowers who used their biweekly mortgage payment program.
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Sen. Ted Cruz introduces bill to abolish CFPB

Partners with Rep. John Ratcliffe on bill to eliminate "runaway agency"
The Consumer Financial Protection Bureau, which celebrated its fourth birthday earlier this week, won’t see its fifth birthday if Sen. Ted Cruz has his way. Cruz, along with Rep. John Ratcliffe, introduced a bill in Congress this week that would abolish the CFPB.
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Federal Court of Appeals finds for MERS, again

Upholds lower court ruling on mortgage assignment authority
Just days after the United States Sixth Circuit Court of Appeals handed a legal victory to MERSCORP Holdings, which saw its mortgage assignment authority challenged in Kentucky, MERS secured another win from the same court.
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Here's everything you need to know about the CFPB

Let’s celebrate the Bureau’s 4th birthday!
While it may seem like the Consumer Financial Protection Bureau has been around forever, the CFPB actually opened its doors just four years ago: July 21, 2011. Here's everything you need to know about the agency synonymous with financial regulation.
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Former Butler & Hosch employees say firm CEO’s statements are “disingenuous”

Attorney in class action suit provides rebuttal to Bob Hosch’s account
The former Butler & Hosch employees at the center of a class-action suit against their former firm are responding to the claims of the firm's CEO, Bob Hosch, saying that Hosch’s statements are “disingenuous.” Seth Lerman, the attorney representing the employess, also details the numerous attempts to serve Hosch with the lawsuit, in direct contradiction with Hosch’s attorney’s statement that Hosch had not yet been served.
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$1.25 billion bulk MSR portfolio hits the market

Underlying loans backstopped by Fannie Mae and Freddie Mac
A $1.25 billion bulk offering of mortgage servicing rights is available for sale, according to MountainView Servicing Group, a provider of residential mortgage servicing rights sales and valuation advisory services, which is advising on the sale.
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