Gov’t orders 14 lenders to reimburse homeowners
The federal government on Wednesday ordered 16 of the nation’s largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.
Attorneys general try to rein in lenders’ shabby behavior on modifications
When you take out a home mortgage, do you expect to be treated fairly and competently by your bank or loan servicer?
Lenders take back 1 million homes last year despite slowdown in foreclosures in December – Minneapolis Star Tribune
NEW YORK – The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their …
Homes lost to lenders jump in ’10 – Worcester Telegram & Gazette
The number of completed foreclosures in the state jumped almost 32 percent last year, but was down from 2008, as the pace slowed dramatically last month. The slowdown in foreclosures last month does not signal an end to the three-year tide of lenders …
Lenders take back 1 million homes last year despite slowdown in foreclosures in December – Chicago Tribune
NEW YORK (AP) — The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on …
HUD investigates lenders’ fair-housing practices
Federal officials have launched an investigation to determine whether 22 mortgage lenders have been discriminating against qualified African-American and Latino borrowers by denying them government-insured loans.
Bellevue Towers developer turns project over to lenders
The region’s biggest condo project ever has been transferred to its lenders after the developer sold less than a quarter of its units in almost two years.
Lenders soon to disclose how credit scores affect mortgage rate quotes
Starting Jan. 1, loan applicants will see a mandatory alert when negative information in their credit bureau files triggers higher rates or adverse terms. Reporting from Washington
Lenders may closely monitor borrowers for life of a loan
In a kind of crisis intervention, IndiSoft is working on computer programs that track borrower behavior so that if a life-changing event occurs, steps can be taken to ensure timely payments are made. The day is coming when lenders will no longer turn their clients loose after they leave the closing table, never to be [...]
Consumer coalition challenges some FHA lenders’ FICO score requirements
The group says the lenders’ demand that mortgage applicants have FICO scores higher than the FHA itself requires discriminates against minority applicants. A national consumer coalition plans to file a series of federal fair housing complaints beginning Monday that challenge a widespread practice by banks and mortgage lenders: requiring borrowers who apply for Federal Housing [...]