Mortgages

BofA, JPMorgan say they have fulfilled mortgage settlement terms

2013-05-22 00:00:00

Bank of America Corp. and JPMorgan Chase & Co. say they have satisfied their obligations to help troubled borrowers under last year's landmark mortgage settlement with state and federal officials. Another bank that signed the settlement, Wells Fargo &...

3 big banks nearly halt foreclosure sales after U.S. tweaks orders

2013-05-19 12:04:00

Sales of homes in foreclosure by Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. ground nearly to a halt after regulators revised their orders on treatment of troubled borrowers during the 60 days before they lose their homes. The banks...

Short sales routinely show up in credit reports as foreclosures

2013-05-17 20:20:00

WASHINGTON — Are large numbers of homeowners who have negotiated short sales with lenders at risk because of a startling omission in the American credit system? Do their credit reports and scores indicate that they were foreclosed upon, rather...

Freddie Mac: Mortgage rates rise; average 30-year loan at 3.51%

2013-05-16 08:54:00

Mortgage rates rose this week, with a widely watched survey reporting that lenders were offering 30-year fixed-rate loans at an average of 3.51%, up from a near-record low of 3.35% two weeks ago. The survey, released Thursday by mortgage financier...

BofA cuts 2 million customers loose

2013-05-14 00:00:00

It's long been a basic tenet of the business world: You give us more business, we'll reward your loyalty with better deals. That's how cable companies operate with their service packages. That's how phone companies work. And until now, that's pretty...

Freddie Mac: 30-year mortgage rate dips to 3.35%, near a record low

2013-05-02 08:10:00

The benchmark 30-year mortgage rate dropped this week to an average of 3.35%, its lowest rate in four months and within a whisper of its record low of 3.31% in fall, Freddie Mac said Thursday. The 15-year fixed mortgage, popular with homeowners...

N.Y. to sue Wells Fargo, Bank of America over mortgage practices

2013-05-06 08:33:00

NEW YORK -- New York state's attorney general plans to sue Wells Fargo and Bank of America over alleged violations of a national mortgage settlement reached last year. Atty. Gen. Eric Schneiderman's office said Monday it intends to sue the banks for...

Mortgage settlement violations persist in California, group says

2013-05-06 10:34:00

NEW YORK -- Violations of a landmark mortgage settlement alleged by New York's attorney general are also widespread in California, a housing advocacy group says. “Banks aren’t doing what they’re supposed to be doing to help people stay...

Monitor credit accounts to catch dings of all sizes

2013-05-04 00:00:00

Dear Liz: My husband and I are in the process of refinancing our mortgage. I just received my credit report in the mail, and my score was 724. The report indicated that a delinquency resulted in my less-than-stellar score. When I went to the credit bureau...

Loan underwriters make 'absurd' demands in effort to verify data

2013-05-03 00:00:00

Did you hear about the loan underwriter who demanded a letter from the borrower's doctor stating the borrower had been healed and his illness would not come back? How about the underwriter who wanted a verification of employment from the borrower who...

Obama nominates Rep. Mel Watt to head Housing Finance Agency

2013-05-02 00:00:00

WASHINGTON — President Obama nominated Democratic Rep. Mel Watt to be the top regulator for Fannie Mae and Freddie Mac, moving to replace a career bureaucrat who has been sharply criticized by liberals for not doing more to help troubled homeowners....

U.S. home prices keep rising, but homeownership is down

2013-04-30 18:00:00

Home prices are rising at levels not seen since the real estate boom, but American homeownership remains on the decline. The two trends underscore the nature of the housing rebound: Gains in pricing have been driven significantly by investors, leaving...

How to impress a mortgage lender

2013-05-16 12:39:34

American Bank Inc.: Offers one-half point reduction in fees paid on a residential mortgage (STOCK PHOTO BY SEAN LOCKE / DIGITAL PLANET DESIGN / MORNING CALL FILE PHOTO )

2013-02-26 08:44:16

Mortgage lender Debbie Jones hugs Re/Max Branch Manager Wayne Curtis during the opening of a Re/Max Advantage Realty office.

2013-02-21 00:00:00