Stories tagged: mortgages
Tue., May 30, 2017
As Americans take on more debt, some pockets of concern
After a stint of frugality, Americans have returned to their borrowing ways. But are they getting into the kinds of debt trouble that lead to recessions?
UPDATED: Wed., May 17, 2017, 12:29 p.m.
Household debt tops 2008 peak, but Americans’ finances are better
The recovery from the Great Recession has hit a milestone: Total household debt climbed to $12.73 trillion in the first quarter to top the peak reached in 2008 before the …
Fri., Feb. 17, 2017, 7:32 a.m.
Fannie Mae to pay Treasury $5.5 billion after profit doubles
Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter.
UPDATED: Mon., Jan. 30, 2017, 12:37 p.m.
Citi to exit mortgage servicing, sell $97 billion portfolio
Citigroup plans to exit the mortgage-servicing business by the end of 2018 to focus on making new loans.
UPDATED: Fri., Jan. 13, 2017, 11:42 a.m.
Three ways it’s becoming harder for millennials to buy homes
Young people can face a lot of challenges when it comes to buying their first home – and that list may be growing. A house can seem far-fetched for someone …
Fri., Dec. 30, 2016, 10:33 a.m.
Foreclosure prevention program is ending after helping fewer than expected
When the Obama administration announced a massive effort to help distressed homeowners in 2009, it set high expectations. The program, government officials said, would keep up to 4 million borrowers …
Fri., Nov. 11, 2016, 8:20 p.m.
What Donald Trump’s win could mean for the average consumer
During his presidential campaign, Donald Trump proposed sweeping changes that could have huge implications for the average American’s finances. Since winning the election, Trump has yet to release many specifics …
Sun., Aug. 21, 2016
Making extra mortgage payments can pay off, but should you?
It’s a strategy that crosses the mind of many borrowers when they take on a home loan: Make an extra mortgage payment or two every year and save tens of …
Tue., Aug. 2, 2016, 2:30 p.m.
Freddie Mac posts $993M profit in 2Q; paying $933M dividend
Mortgage giant Freddie Mac reported net income of $993 million for the second quarter, down sharply from the same period of 2015.
Wed., July 6, 2016, 1:48 p.m.
Record-low U.S. Treasury yield points to rising economic fears
Fear and uncertainty about the global economy are leading investors to embrace the relative safety of U.S. government debt and slashing yields to record lows.
Thu., May 5, 2016, 7:38 a.m.
Fannie Mae posts $1.1B profit in 1Q; paying $919M dividend
Mortgage giant Fannie Mae posted net income of $1.1 billion for the first quarter, down from a year ago as declining interest rates reduced the value of the financial instruments …
Wed., April 27, 2016, 10:02 a.m.
Number of contracts to buy homes at highest level since May
The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 1.4 percent to 110.5, the highest level since May 2015.
Tue., April 26, 2016, 6:59 a.m.
U.S. home prices rise at solid pace, even with flat sales
U.S. home prices continued their steady upward march in February as buyers competed for a limited number of available properties.
Mon., April 11, 2016, 8:14 p.m.
U.S., Goldman Sachs reach $5 billion settlement over risky mortgages
WASHINGTON – The Justice Department on Monday announced a roughly $5 billion settlement with Goldman Sachs over the sale of mortgage-backed securities leading up to the 2008 financial crisis, with …
Thu., March 10, 2016, 8:23 a.m.
Average rate on 30-year mortgage edges up to 3.68 percent
Average long-term U.S. mortgage rates rose this week for only the second time this year.
Fri., May 2, 2014
Interest rate rebound damps real estate lending
Fewer home sales and rising interest rates have led to the nation’s lowest level of mortgage lending in 14 years. Just $235 billion in home loans were started in the …
Sun., Dec. 29, 2013
Tom Kelly: Consistent, low rates lifted housing market
Mortgage lenders are moaning that the refinance boom is over and the only way to make a profit in 2014 is to be successful in the new purchase business. I …
Thu., July 4, 2013
Mortgage rates dip following surge
Average U.S. rates on fixed mortgages fell this week after last week’s surge. Freddie Mac said Wednesday that the average on the 30-year loan dropped to 4.29 percent. That’s down …
Sun., May 19, 2013
Prepayment plans surface with increased home values
A financial planner once told me that people really did not concentrate on saving for retirement until they paid off their home mortgage. The reason was that discretionary income was …
Sun., May 5, 2013
Kelly: The stigma of foreclosure lifts as lenders alienate borrowers
Our nephew, a high school teacher and coach in Southern California, decided to stop paying on his mortgage a year ago. Matt, 34, is still in the home.
Sun., April 21, 2013
Reverifications help lenders weed out fraudulent borrowers
Can your lender challenge loan data after closing? Credit has become tighter and lenders are spending more time verifying a borrower’s assets, especially for investors. But just how long is …
Sun., March 31, 2013
Despite mortgage settlement, borrowers remain frustrated
CHARLOTTE, N.C. – A year ago, a $25 billion settlement ordered banks to do a better job helping troubled homeowners, and to end the stories of borrowers trapped in a …
Sun., March 10, 2013
FHA loan fallout extends its reach to reverse mortgages
Loans insured by the Federal Housing Administration are changing – and not just for “forward” first mortgages. As of April 1, reverse mortgages will change, too, thanks to the queasy …
Mon., Feb. 11, 2013
Nearly one-third of homeowners have no mortgage
What mortgage meltdown? While millions of Americans have suffered the angst of lost homes, equity and pride, nearly a third of the nation’s homeowners have no mortgage at all, according …
Sun., Feb. 3, 2013
Housing advocates push for new subprime option
With home prices rising, interest rates falling and builders building, some prominent housing advocates are calling for a new kind of loan for buyers with lower incomes or bad credit. …
Sun., Dec. 16, 2012
Informed seniors can prevent reverse-mortgage disasters
Reverse mortgage lenders gathered in San Antonio recently for their annual meeting and were met with another inaccurate story in a national publication. According to the piece “many” seniors were …
Sun., Dec. 16, 2012
BBB Tip of the Week: Mortgage foreclosure rescue scams
As part of the Federal Trade Commission’s ongoing efforts to protect consumers in financial distress, it obtained judgment against Dinamica Financiera LLC, Soluciones Dinamicas Inc., Valentin Benitez, and Jose Mario …
Sun., Sept. 23, 2012
Senior homeowners deserve more choices with mortgages
Perhaps the biggest boost to the reverse mortgage industry occurred when the U.S. Department of Housing and Urban Development announced it would insure its own product, the Home Equity Conversion …
Thu., Aug. 16, 2012
High-risk mortgages will require property appraisals
WASHINGTON – New federal rules proposed Wednesday would require all high-risk mortgage lenders to obtain property appraisals for the first time. Under the rule, all mortgages deemed risky would require …
Sun., Aug. 12, 2012
Reverse mortgage requires careful consideration
LOS ANGELES – Reverse mortgages represent an alluring proposition for seniors: Stay in your own home while the bank pays you either a lump sum or a stream of payments …