News

Existing-home sales have reversed the downward trend in recorded in August due to stock market declines, rising 4.7 percent to a seasonally adjusted annual rates of 5.55 million in September, the highest pace since February 2007. The National Association of Realtors reported Thursday that September's rebound in existing–home sales marks a year–over–year increase for 12 consecutive months and all four major regions experienced gains.

Freddie Mac and Quicken Loans recently announced that they have joined forces to pilot several new initiatives aimed at helping provide more Americans the opportunity to achieve homeownership, while also building a smarter American mortgage finance system.

Consumers are applying for mortgage loans using more government applications compared to last week, and while the industry adjusts to the TILA-RESPA Integrated Disclosure rule, applications are expected to become more volatile.

As part of Washington’s continued focus on reducing regulatory burden for Main Street, the House Financial Institutions and Consumer Credit Subcommittee convened on Wednesday to discuss a series of recently proposed bills aimed at achieving this goal.

Clear signs of recovery have been recorded in the housing market, but minority borrowers do not seem to be linked to this recovery.

Although millennials are less likely than baby boomers to identify milestone life events that could affect their credit, over half them are checking their credit when taking out a mortgage loan.

HUD announced Wednesday that it is issuing a proposed rule to protect consumers being harassed in housing. The newly proposed rule would formalize standards to bring about claims under the Fair Housing Act. The rule, also known as "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices under the Fair Housing Act,” was published in the Federal Register today for public comment.

Arch Mortgage Insurance Company, a provider of private mortgage insurance and a wholly owned subsidiary of Arch Capital Group Ltd., recently introduced Arch MI RateStar, the company’s new risk-based pricing program.

Officials of the Obama administration recently rejected investors' calls to reform Fannie Mae and Freddie Mac to end the seven-year conservatorship between the two GSEs.

The total amount recovered from litigation against banks that sold toxic residential mortgage-backed securities to corporate credit unions has now reached $2.2 billion with two recently announced pending settlements, according to an announcement from the National Credit Union Association, chief regulator for credit unions in the United States.