Switzerland's largest bank UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint.
Lending & Refinance News
Apr
27
2016
It didn't take much: A small gain in interest rates had an outsized effect on mortgage applications.
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Total volume decreased 4.1 percent last week on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association. Rates moved higher for the second week in a row.
Apr
27
2016
Mortgage lending presents a ripe target for cyber attackers
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The threat is exponentially rising, not decreasing. And if the people and families behind the information your company is storing isn’t enough motivation to get serious, the lost revenue should be.
Apr
26
2016
The Standard & Poor's/Case-Shiller 20-city home price index rose 5.4 percent that month compared with a year...
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U.S. home prices continued their steady upward march in February as buyers competed for a limited number of available properties.
Apr
26
2016
Guaranteeing access to loans independently of market conditions creates an economics free zone, one where the FHA...
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It is impossible to simultaneously keep the 30-year fixed rate mortgage at the system’s core, protect taxpayers and provide broad access to meet the needs of underserved communities.
Apr
25
2016
By way of comparison, banks still captured about 51 percent of the non-purchase market and mortgage companies captured...
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The credit union industry in particular has benefitted – shifting public sentiment, a push to raise their profile in the eyes of consumers, and some of the newer financial regulations have resulted in credit unions moving in on the turf of banks.
Apr
25
2016
New U.S. single-family home sales unexpectedly fell in March, but the decline was concentrated in the West region,...
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The Commerce Department said on Monday new home sales decreased 1.5 percent to a seasonally adjusted annual rate of 511,000 units. February's sales pace was revised up to 519,000 units from the previously reported 512,000 units.
Apr
22
2016
From the fourth quarter of 2003 through 2006, amid the real estate bubble, personal consumption expenditures grew at an...
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The researchers found that the wealth effect from real estate — that is, the extent to which home price appreciation juices consumer spending — has been cut in half since the mid-2000s.
Apr
22
2016
Residential mortgage lenders have long been required to disclose to their borrowers (i) the cost of credit to the...
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The problem with the TRID rule is that, like the legendary metal bed of the Attic bandit Procrustes, it is a one size fits all regulation and industry participants are going to get stretched or lopped in the process.
Apr
22
2016
I can already hear you yelling — “There are plenty of companies!” And there are. But comparatively, even the companies...
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Mortgages are a hard product to sell, and with increasing regulation and scrutiny, they are only getting harder. The industry as a whole is also ripe for innovation and disruption.