The law provides gap protection that was removed when the administration shut down the VA Servicing Purchase Program in May. President Donald Trump signed the VA Home Loan…
Read MoreMortgage Lending
FHFA Director Refers Senator Schiff to DOJ for Alleged Mortgage Fraud
The senator has claimed both his California and Maryland homes as primary residences. The Federal Housing Finance Agency (FHFA) referred Senator Adam Schiff of California to the Justice…
Read More
HUD Secretary Announces Actions to Eliminate Green Housing Mandate
All multifamily mortgage insurance premiums will be leveled. Department of Housing and Urban Development (HUD) Secretary Scott Turner announced that the Federal Housing Administration is proposing “an across-the-board leveling…
Read MoreFHFA Makes Criminal Referral Against NY Attorney General
The agency alleges she listed a home in Virginia as her primary residence, among other issues related to mortgage fraud. The Federal Housing Finance Agency (FHFA) filed a…
Read More
FTC Issues Refunds to Consumers Harmed by Unqualified Loans
470 victims receive compensation after Vivint Smart Homes misused credit reports to secure unauthorized financing. The Federal Trade Commission (FTC) is distributing nearly $500,000 in refunds to consumers…
Read MoreFederal Chief Economists Respond to Mortgage Rates Increasing
The housing market continues to experience challenges. The Federal Home Loan Mortgage Corporation (Freddie Mac) reported that the average rate for a 30-year-fixed-rate mortgage neared 7 percent this…
Read MoreNew Jersey Bank Agrees to Settlement with DOJ and HUD Over Redlining Allegations
The institution also agreed to five-year compliance training for the Fair Housing Act. New Jersey’s OceanFirst Bank filed a proposed settlement agreeing to pay $15.1 million to settle…
Read More
Federal Reserve Board Cuts Prime Rate 50 Basis Points
The central bank was motivated by the change in the employment rate, among other factors. The Federal Reserve cut interest rates by half a point on Wednesday, an…
Read More
Labor Department Documents Mixed Inflation Cues in August Report
The department also released employment numbers, which missed projections. In its monthly inflation report released Wednesday, the Department of Labor found that the consumer price index increased 0.2…
Read More
Federal Reserve Informally Agrees on Interest Rate Cuts
Members point to an unexpected decrease in inflation rates. Federal Reserve members expressed the intent to lower interest rates at the upcoming meeting on September 17 and 18.…
Read More