Mortgage applications dropped 3.4% on a seasonally adjusted basis from one week earlier for the week ending May 26, 2017, according to the latest weekly report from the Mortgage Bankers Association (MBA). (more…)
California Man Pleads Guilty to Taking $2.2 Million from Distressed Homeowners in Loan Modification Scam
The United States Department of Justice (USDOJ) announced this past week that an Orange County, California man pleaded guilty to operating a $2.4 million loan modification scam. (more…)
Current mortgage rates at some of the nation’s top lenders for this Tuesday morning are mostly on the rise after the Memorial Day weekend. The national average for the 30 year fixed mortgage rate is 4.02% and the 15-year mortgage is 3.19%. (more…)
Black Knight Financial Services released its most recent Home Price Index Report showing that prices were on the rise again with a 1.3% gain for the month of March and was up 5.8% year-over-year to hit another new peak in 2017.
Mortgage rates dropped to a new 2017 low for the week ending May 25, 2017, according to the latest Freddie Mac report.
Mortgage applications were on the rise from one week earlier due to a surge in refinance apps, which was at its highest level since March 2017, according to latest Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 19, 2017. (more…)
Freddie Mac released its latest monthly mortgage Outlook for May showing that the U.S. housing market is on track to eclipse last year despite weak economic growth.
Mortgage originations for the first quarter were around $60 billion above prior predictions driven mainly due to an uptick in refinances. (more…)
First-lien mortgage delinquencies jumped 13% in April to their highest level in more than eight years, according to the latest report from Black Knight Financial Services. (more…)
For the first time this year, new construction of single-family homes sales fell 11.4% to a seasonally adjusted annual rate of 569,000 units, according to the National Association of Home Builders (NAHB). The NAHB reported that sales data for the first quarter of the year were all upwardly revised, and the March sales pace was the highest since October 2007. (more…)
A California homeowner is suing Nationstar Mortgage U.S. Bank National Association for alleged breach of contract and negligence for failing to notify her that she was approved for a loan modification. (more…)
“Immigration is the best way to increase population, housing supply and prices.” – Alex Nowrasteh
Foreign home buyers and immigrants are predicted to drive future demand for U.S. housing which will help bolster home sales and drive up values, according to the latest news from the National Association of Realtors® (NAR). (more…)
The Chairman of the Board and CEO of one of the nation’s largest banks, Bank of America (BofA) is calling for lower mortgage down payment options for qualified home buyers in order to help fuel loan growth and housing. (more…)
The Orange County, California District Attorney’s Office announced this week that a Newport Beach man was arraigned on various felonies for impersonating a lawyer without a license and defrauding several clients through a loan modification and debt consolidation scam. (more…)
Mel Watt, the Director of the Federal Housing Finance Agency Director Mel Watt had said again on Thursday that only Congress can accomplish real housing finance reforms of government-sponsored enterprises Fannie Mae and Freddie Mac.
A Pasadena lawyer was suspended by the California BAR for accepting $45,500 from struggling homeowners in illegal advance fees for loan modifications and legal work that he never performed. (more…)