Home Equity Lending News, July 11, 2024A new servicing rule proposed by the Consumer Financial Protection Bureau addresses dormant second mortgages in which the borrower stopped making the monthly payments …
Category: Top National News
Evictions Surge in Major Cities in the American Sunbelt
The Wall Street Journal, Will Parker, July 15, 2024Tenant evictions look stuck at elevated levels in several corners of the U.S., showing little sign of returning to what was typical …
Most Americans Carry Some Kind of Non-Mortgage Debt
ABC15 Arizona, July 2, 2024–Garrett ArcherAccording to a study by the financial site lendingtree.com, Americans owe a median of $24,668 in non-mortgage debt. The study also breaks down non-mortgage debt …
CFPB Director Rohit Chopra on Junk Fees, The New AVM Rule and More
HousingWire podcast, July 2, 2024–Sarah WheelerOn today’s episode, HousingWire Editor in Chief Sarah Wheeler talks with CFPB Director Rohit Chopra about junk fees, the new AVM rule, the public orders …
Why Gen Z’s Homebuying With Friends Is Up, and What it Takes
National Mortgage News, July 3, 2024–Brad FinkelsteinPurchasing a home has become so expensive that potential buyers of all ages, but especially younger folks, are looking into pooling their assets with …
HUD Adds Translations of Mortgage Servicing Documents
National Mortgage News, July 5, 2024-Brad FinkelsteinThe Department of Housing and Urban Development has created translations of 19 Federal Housing Administration mortgage servicing documents to increase information access to borrowers …
Zillow: Middle-Class Americans Must Put Down More Than $127,000 to Afford Monthly Mortgage
A new Zillow analysis shows that to comfortably afford a typical U.S. home, a median-income homebuyer needs to put down nearly $127,750, or 35.4%.
A Down Payment of Just 20% May Be a Thing of the Past, Zillow Says
Atlanta Agent magazine, June 24, 2024–Liz HughesThe 20% down payment may now be a thing of the past.A homebuyer who earns the median U.S. household income would need to make …
Homeowners Can Get Cash-out Second Mortgages to Fund Small Rental Properties
Orange County Register, June 28, 2024–Jeff LazersonHomeowners can pull cash out on a second mortgage for a rental — up to 80% combined loan-to-value. But buyer beware, the interest rate …
Ginnie Mae Proposes HMBS 2.0 Terms
National Mortgage News, June 28, 2024–Brad FinkelsteinGinnie Mae has released a term sheet for its revised Home Equity Conversion Mortgage securitization program, starting a comment period that ends on July …