CFPB Monitor

DECEMBER 1, 2023

The Federal Housing Administration (FHA) recently proposed enhancements to its 203(k) rehabilitation mortgage loan program. The proposed enhancements are set forth in a draft Mortgagee Letter. FHA will accept feedback on the proposed enhancements, via its Single Family Drafting Table webpage , through January 5, 2024.

143

143

PYMNTS

MAY 19, 2020

As lenders provide relief for homeowners from the financial challenges of COVID-19, the number of mortgages on temporary postponement increased to 8.16 percent in the prior week, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey. As of May 14, the average 30-year fixed rate mortgage was 3.28

Survey 131

Survey Trends Data Marketing 131

CFPB Monitor

NOVEMBER 28, 2023

The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2024. The standard loan limit for a one-unit home increased from $726,200 in 2023 to $766,550 for 2024.

148

148

CFPB Monitor

DECEMBER 5, 2022

Department of Housing and Urban Development (HUD) recently announced the 2023 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). In high cost areas, the amount for a single unit home increased from $970,800 in 2022 to $1,089,300 in 2023.

Virgin Islands 147

Virgin Islands Guam Alaska Hawaii 147

Independent Banker

MAY 31, 2022

Josh Prejean (right) of Bank of Zachary, here with mortgage client David Rozas, says community banks must compete through customer service. Nonbank institutions continue to be serious contenders in the home lending space. The amount of annual mortgage origination surpassed this figure in both 2020 and 2021. By Beth Mattson-Teig.

Community Bank 185

Community Bank Community Lending Marketing 185

PYMNTS

MAY 1, 2020

One of the nation’s biggest names in mortgage lending has put the brakes on home equity lines of credit (HELOC) as the economic turmoil caused by COVID-19 is making the U.S. mortgage market look shaky. Last month, the bank raised the minimum credit score for home equity loans to 720, up from 680.

San Francisco 154

San Francisco Marketing Lending Report 154

PYMNTS

JUNE 3, 2020

Fueled by the lowest home loan rates in the nation’s history, mortgage applications increased 18 percent for the week ending May 29 compared to the same week one year ago, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. percent and 0.7 percent, respectively.

Survey 131

Survey Marketing Retail Security 131

PYMNTS

SEPTEMBER 17, 2020

Approximately one million homeowners are at risk of losing their homes through foreclosure despite the safety net established by Congress at the start of the COVID-19 pandemic, according to industry data. Under the measure, home loan holders are required to pay back the balances in arrears. advisory firm, told the newspaper. .

Washington 247

Washington Florida National Analytics 247

Qudos Bank

FEBRUARY 15, 2024

Owning a home is a dream come true for many of us, but it also comes with a significant financial responsibility. Paying off a mortgage can take decades, and during that time, you may find yourself wishing for a way to reduce your monthly payments or pay off your home loan sooner. What is Home Loan Refinancing?

Lending 52

Lending Examples Maine Meeting 52

PYMNTS

FEBRUARY 27, 2019

Zillow is focusing more on the mortgage market, making loans to buyers who use the company’s app. Zillow plans to add the mortgage business to its financial reports starting in the second quarter. According to the report, Zillow has been originating mortgages for the past few months after buying Mortgage Lenders of America.

America 169

America Report Strategy Marketing 169

South State Correspondent

FEBRUARY 3, 2020

The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) have popular multifamily lending programs so much so that they now control the bulk of the market.

Lending 273

Lending How To National Marketing 273

CFPB Monitor

DECEMBER 22, 2022

The CFPB recently addressed mortgage financing options in view of the current higher mortgage loan interest rate environment. The CFPB comments on adjustable rate mortgage (ARM) loans, temporary buydowns, home equity lines of credit (HELOCs) and home equity loans, loan.

78

78

PYMNTS

APRIL 2, 2019

Online real estate company Zillow has announced it will offer home loans through a new division that lets mortgage seekers get funding right from the company. CNBC reported this is Zillow’s latest move toward having customers buy and sell homes on the site.

America 139

America Report Company Operations 139

CFPB Monitor

NOVEMBER 30, 2022

The Federal Housing Finance Agency (FHFA) recently announced the conforming loan limits for residential mortgage loans acquired by Fannie Mae and Freddie Mac in 2023. The standard loan limit for a one-unit home increased from $647,200 in 2022 to $726,200 for 2023.

Virgin Islands 148

Virgin Islands Guam Alaska Hawaii 148

TheGuardian

SEPTEMBER 1, 2023

Survey released as HSBC becomes latest lender to increase maximum home loan term to 40 years A third of those with a mortgage do not think they will pay it off by the time they are 65, according to data this week. It coincided with HSBC becoming the latest big lender to increase its maximum mortgage term to 40 years.

Survey 87

Survey Data Marketing Payments 87

South State Correspondent

AUGUST 16, 2023

Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively. Unsecured personal loan usage is up 21%. Consumer Credit – Mortgage & HELOC Originations are down to the lowest level since 2005. Q2 was likely the top of home prices for this cycle. Tappable home equity remains high.

Trends 195

Trends Cards Capital Data 195

PYMNTS

JULY 29, 2020

Home loan applications overall fell 0.8 percent last week as rates on FHA loans rose, according to the Mortgage Bankers Association (MBA). Rates on FHA loans rose, however, leading to a nearly 18 percent drop in FHA refinances. Rates on FHA loans rose, however, leading to a nearly 18 percent drop in FHA refinances.

San Francisco 137

San Francisco Millennials Survey Report 137

CFPB Monitor

DECEMBER 19, 2023

The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA) and a final rule increasing the asset exemption threshold for the Truth in Lending Act (TILA) requirement to maintain an escrow account for a higher-priced mortgage loan (HPML).

Lending 78

Lending 78

CFPB Monitor

NOVEMBER 22, 2022

Department of Housing Urban Development (HUD) recently issued a final rule permitting the use of private flood insurance policies with FHA-insured mortgage loans. reverse mortgage loans), and private flood insurance requirements. Act to encourage an expanded private flood insurance market.”.

Policies 148

Policies Meeting Exercises Regulation 148

Independent Banker

JUNE 30, 2022

As house prices skyrocket, student loan debt grows and wages stagnate, many Gen Zers and millennials are watching their homebuying dreams move out of reach. But there are ways community banks can help mortgage-seekers get on the property ladder. Median home prices have been rising at a double-digit clip, including a 15.7%

Community Bank 143

Community Bank Community Millennials Resources 143

PYMNTS

MAY 1, 2020

home mortgages — or 7.3 The forbearance numbers are climbing steadily, day by day,” said Anthony Jabbour, CEO of mortgage technology and data provider Black Knight Inc. “The The forbearance numbers are climbing steadily, day by day,” said Anthony Jabbour, CEO of mortgage technology and data provider Black Knight Inc.

US 183

US Taxes Security Payments 183

CFPB Monitor

MARCH 16, 2023

On February 27, 2023, the Consumer Financial Protection Bureau (CFPB) entered into a consent order against RMK Financial Corporation d/b/a Majestic Home Loan (RMK), a California-based mortgage lender, based on allegations that it falsely implied government endorsement of its home loans in its marketing.

California 78

California Lending Marketing FDIC 78

PYMNTS

NOVEMBER 29, 2020

The loan payment relief required by the federal CARES Act in response to household income disruption caused by the pandemic has produced mixed results, The Wall Street Journal (WSJ) reported. The reason for the difference is that the federal government has more influence in mortgage and student loan markets, WSJ reported.

New York 150

New York Cards Data Report 150

PYMNTS

JUNE 11, 2020

Mortgage lender Quicken Loans , one of the largest lenders in the United States, might be planning to go public, CNBC reported on Thursday (June 11). Mortgage rates set a new record low Thursday due to falling interest rates. The average rate on a 30-year fixed mortgage was 2.97 percent, according to Mortgage News Daily.

Detroit 150

Detroit Cleveland United States Groups 150

PYMNTS

JULY 6, 2020

The number of homeowners in the mortgage bailout program under the federal CARES Act fell by 104,000 from June 23 to June 30 — the largest one-week drop since the start of the program, reported CNBC. percent of active mortgages. On the other hand, the number of those in the forbearance program is still high, encompassing 4.58

Survey 191

Survey Payments Report 191

American Banker

OCTOBER 11, 2023

The Consumer Financial Protection Bureau alleged in a lawsuit that the nonbank lender violated a 2019 consent order and submitted incorrect information in 2020.

Data 41

Data Policies 41

Qudos Bank

FEBRUARY 15, 2024

Securing a home loan can be challenging, especially if you don't meet a financiers typical lending criteria. That's where a Guarantor for a home loan can make a significant difference. A Guarantor can play a vital role in helping you obtain a home loan by providing additional security to the lender.

Lending 52

Lending Meeting Security US 52

Ublocal

JULY 7, 2023

As home values have increased in VT and NH in the last few years, you may have more equity in your home than you think. That equity can be borrowed against with a Home Equity Line of Credit (HELOC), or a Home Equity Loan to fund home improvements and renovations.

New Hampshire 98

New Hampshire Taxes Vermont Examples 98

Qudos Bank

FEBRUARY 15, 2024

Whether you’re looking to save on interest fees or seeking more flexible terms, refinancing your home loan could be the right move to optimise your financial standing. A few key reasons to consider refinancing may include: Lower interest rates: Refinancing allows you to switch to a loan with a lower interest rate.

Meeting 52

Meeting Marketing Video Online 52

PYMNTS

JANUARY 11, 2021

The pandemic's impacts on the financial and lending spaces are stretching into the new year, with both borrowers and lenders having adjusted how they approach loans in a world where virtual interactions have become the norm. Time is always a crucial variable in the mortgage transaction.

Lending 157

Lending Tools Meeting Industry 157

PYMNTS

MARCH 1, 2019

The Consumer Financial Protection Bureau (CFPB) disclosed in a report on Friday (March 1) that there has been an increase in active duty service members and veterans applying for first time homebuyer loans at least partially guaranteed by the U.S. The report is titled “Mortgages to First-time Homebuying Servicemembers.”.

Comparison 116

Comparison Lending Trends Report 116

Qudos Bank

JANUARY 31, 2024

Whether you’re looking to save on interest fees or seeking more flexible terms, refinancing your home loan could be the right move to optimise your financial standing. A few key reasons to consider refinancing may include: Lower interest rates: Refinancing allows you to switch to a loan with a lower interest rate.

Meeting 52

Meeting Marketing Video Online 52

PYMNTS

APRIL 17, 2018

New data shows that rising home prices are translating into mortgage loan debt not seen since the housing crisis. The amount of the loans packaged and sold by Fannie Mae and Freddie Mac also increased 73 percent in the second half of 2017, compared with the first six months of the year.

Policies 132

Policies Examples Data Payments 132

CFPB Monitor

OCTOBER 13, 2022

On September 29, 2022, the Justice Department announced a proposed consent order with Evolve Bank and Trust to resolve allegations of lending discrimination on the basis of race, sex, and national origin in the pricing of its residential mortgage loans from at least 2014 through 2019.

Lending 147

Lending Memphis Tennessee Leadership 147

PYMNTS

JANUARY 15, 2021

No consumer dreams about applying for a home equity line of credit or a mortgage — they're looking to create a dream kitchen or purchase their first home. The company said the funds will go toward expansion and investment in offerings for FIs. "No

Fintech 157

Fintech Lending Technology Software 157

PYMNTS

DECEMBER 21, 2020

The largest declines were from credit card and credit limit requests, with auto loans in second place. Applications for mortgage refinances, however, were doing well throughout the year, with high credit score borrowers taking advantage of the lower mortgage rates, the report stated.

New York 299

New York Survey Cards Lending 299

Abrigo

DECEMBER 18, 2023

Takeaway 3 Loan-level stress testing can help assess repricing risk, while capital stress testing helps clarify the impact of CRE loan losses on capital. Bankers should examine warning signs and shore up defenses for existing income-producing CRE loans as part of commercial property loan risk management. Morgan data.

Risk Management 221

Risk Management Management Lending Capital 221