Ditech Financial fined $1.4 million for "abusive debt collection practices" in Massachusetts

Posted September 30, 2016 / No comments

Ditech Financial will pay $1.4 million to the state of Massachusetts to settle charges that the company engaged in “abusive debt collection practices” by excessively calling borrowers to collect payment as well as not property notifying some borrowers of their mortgage information, the state’s attorney general announced recently. Source: Housing Wire

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Effective Rate on New Home Loans Continues to Drop

Posted September 30, 2016 / No comments

Interest rates on conventional mortgages for newly built homes fell again in August 2016 according to data released by the Federal Housing Finance Agency (FHFHA), extending the decline to 7 consecutive months. The FHFA data show that the average contract rate on the loans fell from 3.64% to 3.60%, while initial fees and charges went

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Wells Fargo heat turned up: Oregon wants big changes, California wants Stumpf to resign

Posted September 30, 2016 / No comments

The hot seat Wells Fargo CEO John Stumpf currently resides on is nowhere close to cooling off, especially in the wake of Stumpf’s rough appearance Thursday before the House Financial Services Committee to discuss the bank’s fake account scandal. Now, two separate states are calling for significant changes at Wells Fargo, with one calling for

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The Home Renovation That Never Ends

Posted September 30, 2016 / No comments

A look at homeowners-both procrastinators and perfectionists-who take years and spend buckets of money on home improvements. The post The Home Renovation That Never Ends appeared first on Real Estate News and Advice – realtor.com ….(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to

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This chart proves homeowners are getting better at paying their mortgage

Posted September 30, 2016 / No comments

Borrowers continued to get better at paying their mortgages as they move further into the year, with more people reported to be paying their mortgage on time than last year. While the overall performance of mortgages in this report remained relatively unchanged from the previous quarter, here’s how it changed since last year. Source: Housing

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Deutsche Bank nears $5.4 billion settlement over mortgage bonds: AFP

Posted September 30, 2016 / No comments

(Reuters) – Deutsche Bank AG is nearing an agreement with U.S. officials to pay $5.4 billion to settle charges related to its sale of toxic mortgage bonds before the financial crisis, French news agency AFP reported on Friday, citing sources….(read more) Forward this article via email:  Send a copy of this story to someone you know

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Consumer sentiment sees uptick in September

Posted September 30, 2016 / No comments

Consumers sentiment increased in September after preliminary results showed it to be flat from August. Most of the increase was centered on one part of the survey. Survey of Consumers’ chief economist explains the reason for the increase. Source: Housing Wire

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U.S. data to put December rate hike in focus

Posted September 30, 2016 / No comments

DUBLIN (Reuters) – The limits of central bank largesse are set to be a hot topic in the coming week as global policymakers head to Washington for the annual International Monetary Find meetings and key data may harden the case for a tightening of U.S. monetary policy….(read more) Forward this article via email:  Send a copy

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