Sign In
Free Newsletter
Appeals court rules against Maryland homebuyers in finder’s-fee cases
A federal appeals court dealt two blows to Maryland homebuyers with decisions holding that mortgage lenders cannot be held liable under a state law designed to prevent mortgage brokers from charging an undisclosed “finder’s fee” at settlement.
Mortgage settlement hits Citigroup net income
Citigroup said Monday that its net income dropped in the second quarter after it took a $3.8 billion charge to settle claims over its risky subprime mortgage business.
Levin, Rotenberg: Rethinking the need to bring in a receiver
Lenders’ counsel typically take steps to prevent their clients from being deemed to be mortgagees-in-possession of distressed real property. However, under some circumstances it may be advantageous for a lender to become a mortgagee-in-possession.
SunTrust to resolve mortgage probes for $968M
SunTrust Banks Inc. agreed to pay $968 million to resolve federal and state claims that a unit misrepresented the quality of mortgages the bank originated and deceived homeowners on loans it serviced.
Fannie-Freddie overseer: loan limits won’t be cut
The regulator overseeing government-controlled mortgage giants Fannie Mae and Freddie Mac has announced a policy that could make more loan money available to borrowers.
Average U.S. 30-year mortgage rate falls to 4.27 pct
Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins.
Average U.S. 30-year mortgage rate rises to 4.41 pct
Average U.S. rates on fixed mortgages rose slightly this week but remained near historically low levels.
Lawyers who run credit-repair firms might consider Minn.
Minnesota regulates credit-repair companies–but not if they are run by lawyers–and other law news items in this week's Law Blog Roundup.
JPMorgan adds cuts, to lay off 8,000 total this year
JPMorgan Chase plans to eliminate 8,000 jobs this year as its mortgage business shrinks and the giant bank aims to control costs at its branches.
East Baltimore house repo goes astray
Veronica and Peter Nikoroken thought they had cleared up any confusion with Bank of America after a vacancy notice was mistakenly placed on their East Baltimore home in February. Bank of America did not even have a mortgage on their home, after all.
Fed leaves low interest-rate policies unchanged
WASHINGTON — The Federal Reserve says the U.S. economy still needs support from its low interest-rate policies because it is growing only moderately. In a statement Wednesday after a policy meeting, the Fed said it would keep buying $85 billion a month in bonds to keep long-term interest rates low and encourage borrowing and spending. […]
Home resales drop to nine-month low in September, down 5.6% from August
WASHINGTON — The number of Americans who signed contracts to buy existing homes fell in September to the lowest level in nine months. The decline reflects higher mortgage rates and home prices that have made purchases more costly. The National Association of Realtors said Monday that its seasonally adjusted pending home sales index dropped 5.6 […]
