CFPB Loses Key IMB Redlining Case
On Friday, a District Court in Chicago ruled in CFPB v. Townstone Financial Inc. and Barry Sturner that the Equal Credit Opportunity Act does not extend to prospective applicants under a plain language reading of the statute.
MBA Letter Voices Concerns Over FHFA DTI-Based LLPA
The Mortgage Bankers Association on Friday sent a letter to the Federal Housing Finance Agency expressing concerns regarding recently announced changes to loan-level price adjustments by Fannie Mae and Freddie Mac, particularly addition of an LLPA based on debt-to-income ratio.
Black Knight: More than Half of Borrowers Using Rate Buydowns
Black Knight, Jacksonville, Fla., said 57 percent of recent borrowers used rate buydowns to purchase a home, with nearly 25 percent paying two or more points upfront.
Homebuyers See Relief from Prices, Monthly Payments
Redfin, Seattle, said homebuyers in many markets are starting to see relief from home prices and monthly payments.
Home Equity Flattens in 4Q
ATTOM, Irvine, Calif., said 48 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, down slightly from the previous quarter but up from a year ago.
Inflation Spurs Consumers to Credit Cards, Home Equity
TransUnion, Chicago, said amid rising interest rates and high inflation, the fourth quarter saw consumers continuing to look to credit as a means to help stave off financial pressures.
