Where have all the home buyers gone? Interest rates for typical mortgages are hovering around 4 percent – but potential homebuyers aren’t biting. Overall, applications for both refinancing and home mortgages are down by 48 percent this year, according to a new CNBC...
Lending standards took a tighter turn this past January, making it harder for many would be homebuyers to get a mortgage – and fueling fears of a slowdown in the recovering housing market. But in spite of those new requirements, some lenders are making their own...
The nation’s three biggest banks, already poster children for a variety of fraudulent practices, have now added insurance fraud to the list of offenses that keep bringing them to federal court. This time, the problem had to do with “force-placed” homeowner insurance...
More dirty laundry continues to air in the mortgage lending industry as US Department of Justice investigations keep leading to more charges of bad loan practices against the nation’s biggest banks. The latest round has JP Morgan Chase paying $614 million for...
By many benchmarks, the housing market’s recovery continues, with rising home prices, more new construction and even a safer lending environment for mortgage applicants. But casting a long shadow over all these rosier indicators is the vast and stagnant foreclosure...
