Homebuyer affordability worsened in January for the first time in seven months, despite mortgage rates hitting a three-year low. Processing Content The national median payment applied for by purchase applicants rose from $2,025 in December to $2,070 last month, according to the Mortgage Bankers Association’s Purchase Applications Payment Index. That’s on par with levels recorded […]
Homebuyer affordability dips after seven-month run Read More »
Loancare can’t shake allegations that it mishandled borrowers’ mortgage prepayments, after a federal appeals court gave new life to a longstanding class action complaint. Processing Content The servicer will have to relitigate claims that it delayed customers’ prepayments toward unpaid principal balances in order to accrue unearned interest. Three justices of the 4th Circuit U.S.
LoanCare faces revived class action on prepayments Read More »
Key insight: A bill offered by Sens. Catherine Cortez Masto, D-Nev., and Todd Young, R-Ind., would allow Federal Home Loan bank members to set up tax-exempt bonds for community development projects, much the same way they already do for housing projects. Expert quote: “For too long, communities across the country have had a hard time
Exclusive: Lawmakers introduce bipartisan FHLB bond bill Read More »