Mortgage

Mortgage
FTC

Court Finds Defendants Lied to Consumers When Selling Legal Services for Mortgage Relief

A federal court has found that Jeremy Foti and Charles Marshall, acting through Brookstone Law and Advantis Law, “made numerous false and/or misleading material statements to consumers” when selling legal services for purported mortgage relief.
MBA

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 9.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 15, 2017. Last week's results included an adjustment for the Labor Day holiday.
MBA

MBA Applauds Senate for Confirming Pam Patenaude

David H. Stevens, CMB, President & CEO of the Mortgage Bankers Association (MBA), released a statement following the Senate confirmation of Pam Patenaude to be the Deputy Secretary of Housing and Urban Development (HUD).
MBA

MBA’s RIHA Releases Special Report on Managing Mortgage Product Development Risk

The Mortgage Bankers Association's Research Institute for Housing America (RIHA) today released a new special report, Managing Mortgage Product Development Risk." The report "recommends a more formalized approach to assessing mortgage product risk that takes into account both product and process risk." It was authored by Clifford V. Rossi, Executive in Resident and Professor at the Robert H. Smith School of Business, University of Maryland.
MBA

MBA Releases White Paper, “CFPB 2.0: Advancing Consumer Protection”

The Mortgage Bankers Association (MBA) today released a new white paper, prepared for MBA by the law firm of Covington and Burling, entitled CFPB 2.0: Advancing Consumer Protection. The paper examines the approach of the Consumer Financial Protection Bureau (CFPB) during its first five years of undertaking enforcement actions in key areas--including actions that clearly departed from prior published interpretations-without providing sufficient supervisory guidance to the industry in advance.
MBA

Statement on Brian Montgomery Being Nominated to Lead the FHA

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement about President Trump nominating Brian Montgomery to be the next Federal Housing Commissioner at the U.S. Department of Housing and Urban Development (HUD)
MBA

Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 9.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2017. This week's results included an adjustment for the Labor Day holiday.
MBA

August New Home Purchase Mortgage Applications Increased 6.8 Percent Year over Year

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2017 shows mortgage applications for new home purchases increased 6.8 percent compared to August 2016. Compared to July 2017, applications increased by 7 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
MBA

Mortgage Credit Availability Increases in August

Mortgage credit availability increased slightly in August according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from Ellie Mae's AllRegs® Market Clarity® business information tool.
MBA

MBA Statement on Hurricanes Harvey and Irma Relief Efforts

David H. Stevens, President & CEO of the Mortgage Bankers Association (MBA), released the following statement in response to questions about what steps homeowners should take if their homes suffered damage from Hurricanes Harvey or Irma.
NAHB

Statement from NAHB Chairman Granger MacDonald on HUD Suspending FHA Multifamily Mortgage Insurance Applications...

Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, today issued the following statement regarding the Department of Housing and Urban Development’s decision to halt new FHA multifamily mortgage insurance applications in counties impacted by Hurricane Harvey and designated as Presidentially Declared Disaster areas
MBA

MISMO Seeks Input on Online Notary Standards

MISMO®, the Mortgage Industry Standards Maintenance Organization, is inviting mortgage industry participants to collaborate on developing new electronic and online notary standards and best practices for use within the mortgage process
MBA

Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 3.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 1, 2017.
MBA

MISMO Seeks Input on New Closing Instruction Standards for the Mortgage Industry

MISMO, the mortgage industry's standards organization, is inviting industry participants to collaborate on new closing instruction standards, which will be designed to improve communication and avoid delays during the closing process.
NAR

With National Flood Insurance Program Expiring Soon, Realtors® Sound the Alarm

The National Flood Insurance Program is now less than one month away from expiration, raising concerns that homeowners, consumers, and commercial property owners could soon find themselves either unprotected or unable to get a mortgage.
HUD - U.S. Department of Housing and Urban Development

Survivor Housing a Priority for the Federal and State Recovery Effort after Hurricane Harvey

The federal government continues to focus on the lives and safety of those affected by Hurricane Harvey. While the coordinated response continues, the U.S. Department of Housing and Urban Development (HUD), Federal Emergency Management Agency (FEMA), and other federal, state, local, and tribal partners, are beginning to direct efforts toward recovery, including housing survivors displaced by the disaster through the state-led disaster housing task force.
MBA

MBA Statement on Hurricane Harvey and Relief Efforts

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement on Hurricane Harvey. "I want to offer my condolences and sympathy to the millions of people affected by this tragedy. Our thoughts and prayers are with them all.
MBA

MBA Statement on HECM Program Changes

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), made the following statement on the recently announced changes to the Home Equity Conversion (HECM) program. "MBA applauds the announcement by HUD that it is modifying premiums and distribution limits in the HECM program, moves designed to strengthen the FHA fund and lessen risk to taxpayers.
Ginnie Mae

Ginnie Mae Extends Assistance to Harvey-Impacted Issuers

Ginnie Mae is highlighting its assistance program to help its Mortgage Backed Security (MBS) Issuers impacted by Hurricane Harvey. “We’ll work with our partners to ensure we get through this together,” said Michael Bright, Ginnie Mae Executive Vice President, Chief Operating Officer and Acting President.
MBA

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 25, 2017
MBA

Independent Mortgage Bank Production Profits Improved in 2nd Quarter

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $1,122 on each loan they originated in the second quarter of 2017, up from a reported gain of $224 per loan in the first quarter of 2017, the Mortgage Bankers Association (MBA) reported today in its Quarterly Mortgage Bankers Performance Report
MBA

Delinquencies and Foreclosures Continue to Decline in Q2 2017

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.24 percent of all loans outstanding at the end of the second quarter of 2017.  The delinquency rate was down 47 basis points from the previous quarter, and was 42 basis points lower than one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey
NIBS

Webinar Looks at Capturing Energy Performance in Commercial Building Mortgages

When it comes to the buying and selling of commercial real estate—a multi-step process that involves high stakes and numerous stakeholders—the energy performance of buildings is not usually top of mind. An upcoming webinar by the National Institute of Building Sciences Council on Finance, Insurance and Real Estate (CFIRE) could bring the topic into higher focus.
MBA

Mortgage Applications Decrease in Latest MBA Weekly Survey

Mortgage applications decreased 0.5 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 18, 2017.
MBA

Mortgage Applications Slightly Increase in Latest MBA Weekly Survey

Mortgage applications increased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 11, 2017.
NAHB

Housing Affordability Inches Lower in Second Quarter

Rising home prices offset a quarter-point drop in mortgage interest rates to move housing affordability slightly lower in the second quarter of 2017, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today
MBA

July New Home Purchase Mortgage Applications Increased 5.1 Percent Year over Year

The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for July 2017 shows mortgage applications for new home purchases increased 5.1 percent compared to July 2016. Compared to June 2017, applications decreased by 12 percent. This change does not include any adjustment for typical seasonal patterns.
MBA

Mortgage Applications Increase in Latest MBA Weekly Survey

Mortgage applications increased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2017
MBA

MBA Statement on Introduction of SAFE Transitional License Act

David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), released the following statement on the bipartisan introduction of the SAFE Transitional License Act in the U.S. Senate. The bill (S. 1753) was introduced and originally co-sponsored last week by Senators Dean Heller (R-NV) and Bob Menendez (D-NJ). Substantially similar bipartisan legislation (H.R. 2948) was introduced in the U.S. House of Representatives in late June, and originally cosponsored at that time by Reps. Steve Stivers (R-OH), Bruce Poliquin (R-ME), Joyce Beatty (D-OH), and Kyrsten Sinema (D-AZ), respectively.
USDOJ

PHH Agrees to Pay Over $74 Million to Resolve Alleged False Claims Act Liability...

PHH Corp. PHH Mortgage Corp. and PHH Home Loans (collectively, PHH) have agreed to pay the United States $74,453,802 to resolve allegations that they violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA), guaranteed by the United States Department of Veterans Affairs (VA), and purchased by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) that did not meet applicable requirements, the Justice Department announced today.

Popular Government & Nonprofit Press Releases

USDOJ

Attorney General Sessions Delivers Remarks at “West Virginia on the Rise:...

Thanks for that kind introduction, Matt and thank you for your leadership at ACU— one of America’s oldest and largest conservative grassroots organization. Of course I also want to congratulate your family on Mercedes’ return to the White House. I am confident that she is going to do a great job communicating President Trump’s ambitious agenda for this country.

Recent Government & Nonprofit Press Releases

DOI

Secretary Zinke Announces $94.3 Million to States for Parks and Outdoor...

U.S. Secretary of the Interior Ryan Zinke today announced that $94.3 million will be distributed for outdoor recreation and conservation projects to the 50 states, U.S. territories, and the District of Columbia from the Land and Water Conservation Fund (LWCF), which is funded through offshore oil and gas leasing. These funds are awarded through federal matching grants that leverage public and private investment in America’s state and local public parks.