As lenders scrambled to ready their businesses for the implementation of TRID, the U.S. government was taking a stand against alleged fraud. The government filed a lawsuit at the end of September, pursuing five mortgage lenders along with their principals. The claim? That these lenders defrauded the government with false FHA claims. After an investigation to determine the existence of…
November 2015
As a result of the Federal Reserves’ most recent policy statement released at the end of October mortgage rates jumped. Even though the Central Bank did not introduce any changes to short term rates at the end of their policy meeting in October. At the same a clear message was sent to the markets that the doors will stay open…
Borrowers with credit scores below 620 have struggled in recent years to access home loans in meaningful numbers, but it looks like that might be changing. More lenders are making subprime mortgages available again. According to new research from the National Consumer Credit Trends Report, the number of subprime mortgage originations increased in a big way during the first five…