Eric Marshall, of Grand Island was charged with felony fraud and larceny. It is alleged that Marshall devised an online scheme to fake the courtship of the three women through various dating websites using fake profiles. (more…)
Freddie Mac released its Multi-Indicator Market Index® (MiMi®) today showing that the U.S. housing market is holding steady.
The national housing market stands at a value of 85 in the index, which is the outer range of its historic benchmark level of housing activity. The market improved +0.08% from May to June and a three-month improvement of +1.37%. (more…)
The Federal Housing Agency released its latest report this week on conventional purchase-money mortgages showing that rates decreased from June to July.
The Federal Housing Administration (FHA) has implemented new rules that change mortgage underwriting guidelines to make it much easier to buy a condominium.
Earlier this month, President Obama signed into law H.R. 3700, also known as the Housing Opportunity Through Modernization Act, that required housing officials to rewrite several rules for condo FHA eligibility. (more…)
A Long Beach, California man pleaded guilty last week to charges related to operating an illegal $3 million foreclosure rescue scam, according to the United States Department of Justice (USDOJ). (more…)
A new California homeowner bill just passed that will require banks and other mortgage servicers to communicate with the widowed spouses and survivors of homeowners so that they may keep their family homes. (more…)
Mortgage delinquencies increased this past month to just over 4.5%, according to Black Knight Financial Services July 2016 report. (more…)
Average mortgage rates for the week ending August 11, 2016 have changed a little from the previous week and remaining near historic lows, according to the latest report from Freddie Mac.
Freddie Mac reported the 30 year fixed mortgage averaged 3.45% with an average 0.5 point, up just a tad from the previous week’s average of 3.43%. Last year at this time, it averaged 3.94%. (more…)
The mortgage servicng guidelines for Fannie Mae loans were recently updated in the latest Servicing Guide Announcement SCV for 2016-2017. The changes reflect Fannie Mae Streamlined Modifications, Government Mortgage Loan Modifications, Processing a Workout Incentive Fees, and Allowable Foreclosure Attorney Fees. (more…)
Mortgage delinquencies and foreclosures were on the way down, and mortgage help on the way up during the second quarter of 2016 according to the latest report issued by HOPE NOW. (more…)
Massive consumer victory upholds claims that BOA’s HAMP mortgage-modification program was a RICO enterprise
The nation’s seconds largest banking institution, Bank of America must face a class action lawsuit over RICO and promissory estoppel claims for conspiring to obstruct, delay and deny their Home Affordable Modification Program (HAMP) applications. (more…)
The U.S. mortgage giant Freddie Mac, announced today that it has officially extended mortgage forbearance relief to Louisiana flood victims. (more…)
The number of mortgage applications declined for the week ending August 12th, despite lower historically low rates, according to the latest report from the Mortgage Bankers Association (MBA). (more…)
The serious mortgage delinquency rate declined, credit card popularity is on the rise and both personal and auto loans are at all time highs in the second quarter of 2016, according to a new survey by TransUnion. (more…)
Home builders are a bit more confident in the market for newly constructed single-family homes in August, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). (more…)