Mortgage

WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) --Debra W. Still, CMB, Chairman of the Mortgage Bankers Association (MBA), issued the following statement on the final Qualified Mortgage/Ability to Repay rule released today by the Consumer Financial Protection Bureau (CFPB)

WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) -- Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla., today issued the following statement regarding the Consumer Financial Protection Bureau’s newly-released standard on the definition of a qualified mortgage (QM) which addresses the borrower’s ability to repay a home loan:

Edison, NJ - January 10, 2012 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), a privately held national lending institution, announced today that their conduit platform, d/b/a HomeBridge, is nearing their anticipated launch date of HomeBridge Correspondent for 2013 Q1. Additionally, under the leadership of Bela M. Donine, Managing Director, HomeBridge Correspondent announces their correspondent national sales team that includes the following industry veterans

Richmond, VA - January 10, 2012 - (RealEstateRama) -- Real Estate Mortgage Network, Inc. (REMN), one of the largest privately held non-bank lenders in the US, continues to expand its South Atlantic presence with a new office in Richmond, VA. Led by Branch Manager Lindy Pond, a nationally recognized renovation lending expert, this new REMN office will provide Central Virginia home buyers, home owners and real estate professionals with the high levels of quality and customer service that REMN is known for nationwide.

Reston, Virginia - January 10, 2012 - (RealEstateRama) -- Below is a monthly summary of major legal decisions involving either the use of the MERS® System database or Mortgage Electronic Registration Systems, Inc. (MERS) and its role in the mortgage process. Please feel free to contact the MERSCORP Holdings, Inc. Communications department with any questions and visit the MERS Newsroom for a full list of news releases.

WASHINGTON, D.C. - January 10, 2012 - (RealEstateRama) -- The Consumer Financial Protection Bureau’s new rules generally strike a balanced, reasonable approach to mortgage lending and implement important consumer protections. The standard CFPB establishes for a safe, well-underwritten mortgage is appropriately broad enough to include the vast majority of creditworthy home owners, and it is clear enough for lenders and borrowers alike to understand. And the rules preserve legal protection for borrowers with the riskiest loans

Reston, Virginia - January 09, 2012 - (RealEstateRama) -- MERSCORP Holdings, Inc. today announced that the United States Bankruptcy Appellate Panel of the Tenth Circuit held that Mortgage Electronic Registration Systems, Inc. (MERS) is a mortgagee in its capacity as nominee for the lender and its successors and assigns, that there is nothing impermissible in this arrangement and that “[a]t all times, the Note and Mortgage were united.”

WASHINGTON, D.C. - January 09, 2012 - (RealEstateRama) -- Mortgage applications increased 11.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 4, 2013. The results include an adjustment to account for the New Year’s Day holiday

LOS ANGELES, CA - January 08, 2012 - (RealEstateRama) -- In an effort to conform state law to a federal law passed last week that extended mortgage debt forgiveness, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is sponsoring Senate Bill 30, so tha...

DES MOINES - January 08, 2012 - (RealEstateRama) -- Gov. Branstad and Lt. Gov. Reynolds were accompanied by Iowa Finance Authority Executive Director Dave Jamison today to announce that eligible Iowans can now buy a home and reduce their federal income...

WASHINGTON, D.C. - January 08, 2012 - (RealEstateRama) -- As part of its continuing crackdown on scams that target consumers in financial distress, the Federal Trade Commission obtained a settlement order resolving charges against a nationwide scam operating from the Dominican Republic and banning the defendants from providing mortgage assistance relief.

WASHINGTON, D.C. - January 03, 2012 - (RealEstateRama) -- The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Application Survey for the two weeks ending December 21, 2012 and December 28, 2012.

WASHINGTON, D.C. - January 02, 2012 - (RealEstateRama) -- Construction spending dipped from October to November, but resolution of the uncertainty regarding federal taxes for 2013 should unleash more private construction investment, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials warned, however, that unresolved issues about federal construction spending, including storm relief for northeastern states, will hold down public construction spending.

Washington, DC - December 27, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.36 percent based on loans closed in November. There was a decrease of 0.08 from the previous month. With data for February 2012, FHFA began calculating interest rates using un-weighted survey data.

SACRAMENTO, CA - December 21, 2012 - (RealEstateRama) -- Attorney General Kamala D. Harris today announced that the California Homeowner Bill of Rights, a landmark package of legislation that extends key mortgage and foreclosure protections to Californ...

BURLINGTON - December 21, 2012 - (RealEstateRama) -- Vermont Housing Finance Agency (VHFA) has taken two big steps towards making housing more affordable in the Green Mountain State.

Washington, D.C. - December 20, 2012 - (RealEstateRama) -- The Federal Housing Finance Agency (FHFA) today released its October Refinance Report, which shows that Fannie Mae and Freddie Mac have refinanced more than 1.8 million loans through the Home Affordable Refinance Program (HARP) since the program began in 2009. In October, more than 81,000 homeowners refinanced their mortgage through HARP and 790,619 loans have been refinanced through HARP between January and October. The continued high volume of HARP refinances is attributed to record-low mortgage rates and program enhancements announced last year.

WASHINGTON, DC - December 20, 2012 - (RealEstateRama) -- A Las Vegas real estate agent was sentenced today to serve 70 months in prison for her participation in a mortgage fraud scheme that netted more than $10 million in fraudulent mortgage loans, ann...

WASHINGTON, D.C. - December 19, 2012 - (RealEstateRama) -- Debra W. Still, CMB, Chairman of the Mortgage Bankers Association (MBA) today announced that the Association has assembled a task force of MBA members to revisit MBA’s groundbreaking 2009 proposal for the future of the secondary mortgage market and the Government Sponsored Enterprises (Fannie Mae and Freddie Mac, or “the GSEs”). MBA’s GSE Single Family Task Force will be led by Tim Dale, Executive Vice President - Mortgage Lending at BB&T and a former chairman of MBA’s Residential Board of Governors (RESBOG).

WASHINGTON, D.C. - December 19, 2012 - (RealEstateRama) -- Mortgage applications decreased 12.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 14, 2012.