News

Mortgage loan application defects took an unexpected turn in August and declined 2.4 percent, but there are questions as to whether or not loan defects will continue this downward trend.

The Consumer Financial Protection Bureau and the Department of Justice have taken action against Hudson City Savings Bank for discriminatory redlining practices, according to an announcement Thursday.

Pro Teck's Home Value Forecast found that in markets like San Francisco and Detroit are experiencing different recoveries and one reason for this is the credit availability.

Parkside Lending, LLC, recently announced it will now go to 95 percent LTV without mortgage insurance on its expanded Jumbo program. The company designed the new Jumbo offering to help creditworthy borrowers with a down payment or equity as low as 5 percent fit into a traditional Jumbo loan.

First American Financial Corp., recently announced that its DataTree property research solution is the first to offer a comprehensive collection of residential building characteristic data for Orange County, California properties.

The Collingwood Group, a Washington, D.C.-based business advisory firm, announced that Paul Mullings has joined the company as a managing director supporting the firm in business advisory and risk management and compliance practices.

The majority of metro housing markets are showing signs of health, which will make for sustainable growth in the near-term, according to Nationwide's Health of Housing Markets Report.

The city of Oakland, California, has filed a lawsuit against Wells Fargo accusing the bank of reverse redlining by targeting minorities for high-cost mortgage loans which later led to foreclosures and blight when the borrowers defaulted.

Lenders across the U.S. appear to be offering borrowers a second chance at obtaining a mortgage by originating more subprime mortgages for borrowers with credit scores under 620.

As more consumers catch up on their mortgage payments, employment progresses, and home prices rebound, the housing market continues to improve and exhibit more stability.