FBI Launches Criminal Probe into New York AG Letitia James for Mortgage Fraud
ALBANY, N.Y. — The FBI has opened a criminal investigation into allegations that New York Attorney General Letitia James falsified mortgage records related to property purchases in Virginia and Brooklyn, according to…
ACI Worldwide fined $25 million for multibillion-dollar mortgage payment ‘fiasco’
(Reuters) – The top U.S. consumer finance watchdog on Tuesday said it had fined the Nebraska payment processor ACI Worldwide $25 million for improperly processing more than $2 billion in mortgage payment…
Hong Kong to fine-tune mortgage limits for first-time homebuyers
HONG KONG (Reuters) – Hong Kong plans to “fine-tune” the maximum size of mortgages available to first-time homebuyers, Financial Secretary Paul Chan said in a radio interview on Sunday. Chan told Commercial…
Republic First Bancorp cuts jobs in preparation to exit mortgage business
(Reuters) – Republic First Bancorp said on Friday it cut jobs in its commercial lending unit as the lender prepares to exit its mortgage origination business. The Philadelphia-based regional bank said high…
Metro Bank posts second quarter of profitability on mortgage loans demand
(Reuters) – Metro Bank on Wednesday said it had reached underlying profitability for the second consecutive quarter, as net inflows picked up pace in March on a revival in demand for mortgage…
This Small Mortgage Company’s Legal Battle With A Federal Agency Raises Huge Free Speech Concerns, Advocates Say
This Small Mortgage Company’s Legal Battle With A Federal Agency Raises Huge Free Speech Concerns, Advocates Say Katelynn Richardson on April 30, 2023 The Consumer Financial Protection Bureau (CFPB) sued a small…
‘Insanity’: New Biden Mortgage Rules Mask ‘True Risk’ Of ‘Bad’ Loans, Experts Say
‘Insanity’: New Biden Mortgage Rules Mask ‘True Risk’ Of ‘Bad’ Loans, Experts Say John Hugh DeMastri on April 29, 2023 An upcoming Biden administration rule could expose taxpayers to financial risks by…
‘Worsen Their Credit’: Obama Official Rips Biden Admin Mortgage Rule
‘Worsen Their Credit’: Obama Official Rips Biden Admin Mortgage Rule Harold Hutchison on April 20, 2023 A former Obama administration official ripped a proposed Biden administration rule Thursday, saying it incentivized people…
ECB’s Centeno says mortgage default risk in Portugal is low
By Sergio Goncalves LISBON (Reuters) – The risk of default on mortgages in Portugal is low despite the steep rise in interest rates by the European Central Bank (ECB) because there are…
US mortgage refinancings hit 6-month high on rates drop, MBA says
(Reuters) – U.S. residential mortgage refinancing activity climbed to a six-month high last week, a trade group said on Wednesday, fueled by a third straight weekly drop in borrowing costs on the…
UK mortgage approvals rose more than expected in February: BoE
LONDON (Reuters) – The volume of mortgages approved by British lenders picked up in February by more than expected, adding to signs that the downturn in the housing market may be levelling…
Most Swedish mortgage borrowers have good buffers despite rising rates, FSA report says
STOCKHOLM (Reuters) -Swedish mortgage rates more than doubled for new mortgage borrowers in 2022 versus the previous year, but the majority of households still have good economic buffers, a report by the…
US mortgage rates tumble by the most in 4 months in SVB’s wake, MBA says
(Reuters) – Last week’s banking sector turmoil had at least one silver lining for U.S. home buyers: lower mortgage interest rates. Interest rates on the most popular U.S. home loan tumbled by…
American Buyers ‘Retreat’ As High Mortgage Rates Strangle Housing Market
American Buyers ‘Retreat’ As High Mortgage Rates Strangle Housing Market John Hugh DeMastri on March 1, 2023 Surging mortgage rates pushed home buyers out of the market and sent volume for new…
U.S. mortgage interest rates remain at highest level since November – MBA
(Reuters) – The average interest rate on the most popular U.S. home loan remained last week at its highest level since November as stronger-than-expected readings on inflation, job gains and consumer spending…
UK mortgage approvals fall to lowest since 2009, excluding pandemic
LONDON (Reuters) – British lenders approved the lowest number of mortgages in January since 2009, excluding a slump at the start of the COVID-19 pandemic, according to Bank of England data published…
U.S. watchdog shutters mortgage outfit as high court case looms
(Reuters) – The U.S. consumer financial watchdog agency on Monday said it had permanently barred California mortgage broker RMK Financial Corp. from the mortgage lending industry, accusing it of repeat violations against…
U.S. mortgage interest rates jump to highest level since November – MBA
(Reuters) – The average interest rate on the most popular U.S. home loan rose last week to its highest since November as bond markets took fright that the Federal Reserve might have…
JPMorgan lays off hundreds of mortgage employees -source
(Reuters) – JPMorgan Chase & Co has cut hundreds of mortgage employees, a source familiar with the matter told Reuters on Wednesday, hours after the company announced plans to hire some bankers.…
HSBC says the ‘headwinds are ahead’ for UK mortgage holders
LONDON (Reuters) – Many mortgage borrowers could struggle to manage more expensive home loans this year, one of Britain’s top bank bosses said on Tuesday, as the cost of living crisis deepens.…
India’s largest mortgage lender HDFC misses Q3 profit view on higher funding costs
BENGALURU (Reuters) – Housing Development Finance Corp (HDFC), India’s largest mortgage lender, reported a 13.2% rise in third-quarter profit on Thursday, missing estimates, as higher funding costs took the shine off strong…
Former Suffolk County Legislator And Co-Conspirator Convicted Of Defrauding Mortgage Lender Out Of More Than A Quarter Of A Million Dollars
Damian Williams, the United States Attorney for the Southern District of New York, announced the convictions of GEORGE GULDI, a former Suffolk County legislator and disbarred attorney, and VICTORIA DAVIDSON for defrauding…
U.S. mortgage interest rates fall to lowest levels since September – MBA
(Reuters) – The average interest rate on the most popular U.S. home loan dropped to its lowest level since September as more evidence inflation is past its peak sent Treasury yields lower,…
China establishes mortgage rate adjustment mechanism for some home buyers
BEIJING (Reuters) -China’s central bank and the banking and insurance regulator have established a dynamic adjustment mechanism on mortgage rates for first-time home buyers, the central bank said on Thursday, in a…
Britain urges banks to offer mortgage flexibility in cost-of-living crisis
By Huw Jones and Iain Withers LONDON (Reuters) -Britain has called on banks to support households finding it difficult to make payments on mortgages during the cost of living crisis. Finance minister…
Hudson County Real Estate Investor Admits Multi-Year Mortgage Fraud Scheme
NEWARK, N.J. – A Hudson County, New Jersey, real estate investor has admitted conspiring to orchestrate a fraudulent home equity line of credit scheme that led to over $400,000 in losses, U.S.…
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