Mortgages
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WASHINGTON – Two Consumer Financial Protection Bureau officials testified before the House Financial Institutions and Consumer Credit Subcommittee here yesterday about the Qualified Mortgage rule the regulator has put together. more »
As the result of the new Qualified Mortgage (QM) rule from the Consumer Financial Protection Bureau, nearly half (44%) of credit unions in a survey conducted by NAFCU indicated they will cease originations of non-qualified mortgages, while another 44 percent will reduce originations. more »
RALEIGH, N.C. – State Employees CU’s First Time Homebuyer’s Mortgage Loan program has surpassed the $1-billion mark in loan balances. more »
WASHINGTON – The House Financial Services Committee will roll out a bill to scale back the Federal Housing Administration’s single-family program in the “next month or so,” according to Rep. Randy Neugebauer, R-Texas. more »
NEWPORT BEACH, Calif. – At least one analyst is bucking the conventional wisdom that says Fannie Mae and Freddie Mac need to be reformed to encourage private capital to move back into the housing market. more »
WASHINGTON – Home loan rates moved up this week, after declining the previous four weeks, according to Freddie Mac. more »
WASHINGTON – Fannie Mae, riding the crest of the mortgage market recovery, reported a $58.7 billion first quarter net this morning, much of it from a one-time accounting move that allowed the company to lower its tax liability. more »
WEST JORDAN, Utah – Mountain America CU said it has added paperless origination to its Quick Close mortgage process. more »
WASHINGTON – Freddie Mac reported a $4.6 billion profit for its fiscal first quarter this morning, its second highest ever and another sign of the recovering mortgage market. more »
SAN DIEGO – San Diego County CU announced it is eliminating all closing costs on its 5/5 ARM for all home purchases and refinances up to $1.5 million. more »
WASHINGTON – Mortgage rates declined this week for the fifth week in a row, inching nearer to record lows, according to Freddie Mac. more »
WASHINGTON – The White House announced this morning it plans to nominate 11-term Democratic Rep. Melvin Watt, a strong credit union supporter, to head the Federal Housing Finance Agency, which regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. more »
WASHINGTON – Mortgage rates fell for the fourth straight week, with the average for the 15-year loan dipping to a new low, according to Freddie Mac. more »
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