“These facts then lead to the conclusion that the loan was granted in order to engender fees for the lender and not for the benefit of the borrower,” Bergen County Superior Court Judge Gerald Escala wrote in his decision.
The mortgage delinquency rate broke a five-year record, and for the eighth consecutive quarter, it dropped below 4%. But at the same time, mortgage delinquencies continue to be twice as high as levels observed prior to the housing bubble.
Real estate agents may not be police officers or soldiers, but they still put themselves at risk when showing homes. So which cities pose the biggest threat to real estate agents? The city topping the list may surprise you.
Four states failed to get their names on the exclusive list of 46 states that no longer have to provide the up-front 25 basis point adverse market fee. Instead, they will pay the fee in addition to the increase in guarantee fees.
States across the nation continue dealing with ongoing housing issues. While New Jersey has almost dried up its foreclosure prevention money supply, Kansas is fighting an unpopular mortgage-related tax.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More