Mortgage News

The city of Los Angeles has filed a lawsuit against Bank of America , the third banking giant accused of mortgage discrimination in minority communities that in turn led to a wave of foreclosures, reduced property tax revenue and increased costs for city services.

A RE/MAX LLC "For Sale" sign stands outside of a home in Seattle, Washington, U.S., on Tuesday, Nov. 19, 2013.

Disparaged by some as the boogeymen of the housing crash, mortgage brokers have taken a beating the past few years.

Some of the nation's largest mortgage REITs are anything but thankful following Thanksgiving, as they have all watched their stocks tumble over the past week.

Sens. Tim Johnson and Mike Crapo , the leaders of the Senate Banking Committee, have asked fellow lawmakers engaged in negotiations over a budget deal not to raise loan-guarantee fees charged by Fannie Mae Congressional negotiators have been trying to reach a small-scale budget agreement to avoid future showdowns over fiscal issues that resulted in ... (more)

This chart shows 15- and 30-year fixed mortgage rates over the past five years. Average 30-year fixed mortgage rates climbed to 4.39 percent this week.

Dan Mekemson is named new Senior Vice President and Director of Mortgage Lending for Bank Mutual.

WASHINGTON: A federal judge has approved a $153 million settlement of a securities fraud lawsuit against Fannie Mae and KPMG brought by shareholders of the mortgage giant.

U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0 percent, heightening expectations the Federal Reserve will soon start ratcheting back its bond-buying stimulus.

A tax break for struggling mortgage borrowers ends Jan. 1 and that could mean big tax bills -- and financial hits for their neighbors.

House prices surged by 7.7% annually in November, marking the fastest rate seen in six years, Halifax has reported.

A U.S. judge is considering an alternative that could result in Bank of America Corp paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis.

The Los Angeles city attorney sued Wells Fargo and Citigroup on Thursday, alleging the companies engaged in mortgage discrimination that led to a wave of foreclosures in minority communities during the housing crash.

One third of people planning to take their first step on the property ladder in the coming months say they are confused about how the new phase of the Government's flagship Help to Buy scheme works, research by a property website has found.

The American Civil Liberties Union has sued the Federal Housing Finance Agency, asking it to disclose efforts to stop municipalities from using eminent domain to bail out underwater homeowners and make its dealings with the financial industry more transparent.

MGIC Investment Corp. and Radian Group Inc. jumped in New York trading after Goldman Sachs Group Inc. recommended investors buy the shares, citing the potential for sales growth amid an improving housing market.

A payday loan is a costly form of credit operating on the fringes of the economy.

RESPA and the Holiday Season As we get closer to the holidays, we think about presents, parties, and RESPA! Ken Perry, president and CEO of Broker Knowledge Group, says he is always surprised to see so many loan originator's getting "confused" around the myth of $25 gifts being OK for referral partners.

University of Michigan student Courtney Funchess, Farmington Hills, helps clean and organize files in the UM School of Nursing, May 9, 2012, where Funchess is doing clerical work this summer to help her pay for school.

Dozens of online subscription businesses have popped up offering to ship boxes of different goodies within a given niche or theme, like makeup or travel, each month.