Newrez has agreed to a $15.5 million settlement with state regulators over allegations it wrongly imposed force-placed insurance on thousands of borrowers who already had homeowners’ policies. Processing Content The Conference of State Bank Supervisors announced the deal Wednesday, which includes $4,511,242 in remediation for affected homeowners. The servicer will pay a $9.9 million administrative […]

The Mortgage Bankers Association supports the Department of Housing and Urban Development’s proposal to loosen the permanent chassis requirement for manufactured homes, but the change will do little for lenders unless appraisal policy moves alongside, the group added in a comment letter. Processing Content The trade group described the proposal as a measured and appropriate

Rising prices and mortgage rates are keeping buyers out of the housing market, resulting in July recording the fewest residential property sales in nearly two years, a new industry report found. Processing Content Home sales fell 4.1% month over month and 0.6% on an annual basis in July, according to Redfin. Pending home sales, a