The fight against residential blight isn't over in Michigan. The state is about to get an injection of federal funding to continue its efforts to clean up the neighborhoods that were the hardest hit by the economic downturn.
Detroit’s housing market was one of the most severely attacked during the financial crisis, leaving a wasteland of foreclosed and abandoned homes. But a new ruling might help give the city the extra boost it needs.
“Today’s action sends a clear and simple message, that quid pro quo agreements for real estate referrals are illegal,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action to ensure that the mortgage market is a level playing field where everyone plays by the rules.”
Dan Gilbert, the founder and chairman of Quicken Loans, is still pushing to save the city of Detroit. He's invested millions in the revitalization of Detroit's downtown area and the results of his efforts are having a real impact on the recovery of the city and on Quickens Loans' business too.
What was viewed as a historically quiet tornado season, quickly took a turn for the worse, and we still have yet to clear the danger zone. Which leads us to the list of the top 7 cities for tornado risk.
The forecast is looking up for Michigan as industry leaders predict the best year for the state since 2008, with projected increases in new housing starts, rising home prices and a decline in foreclosures.
Wow! That was our reaction to the response we received for this year’s HW TECH100 call for nominations. This year, more than 250 companies submitted a nomination, and we’re grateful for the interest in our efforts with this unique program..
In the tech world a “stack” refers to all the elements of something. For the mortgage industry, the idea of the single stack is that one platform (digital, automated and based in the cloud) can either meet all of the functional requirements involved in assembling a mortgage, or can serve as an efficient moderator for the process via open APIs (application programming interface), which are now taking off within the mortgage industry. Read More
Nothing reeks of hypocrisy more than the regulator ignoring regulations, but the CFPB has racked up plenty of violations in the last year. And we’re not talking about small, nitpicky examples, but instances that have real-life consequences. If a lender or servicer were to violate any of these standards, they could expect swift and harsh punishment from the CFPB. Read More