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Keyword: mortgage

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  • CFPB to eliminate DTI requirement from qualified mortgage standards

    06/22/2020 2:42:46 PM PDT · by ameribbean expat · 36 replies
    The Consumer Financial Protection Bureau announced Monday two notices of proposed rulemaking surrounding what’s commonly known as the QM Patch. One of those rulemakings would remove the debt-to-income requirement from qualified mortgages. Back in January, CFPB Director Kathy Kraninger sent a letter to several prominent members of Congress, saying the bureau has decided to propose an amendment to the QM Rule that would “move away” from DTI as a factor in mortgage underwriting. Specifically, Kraninger said at the time that the CFPB has decided to shift from the DTI standard and move to an “alternative, such as a pricing threshold...
  • Tucker Carlson: Stepmother Of Police Officer Charged In Rayshard Brooks Shooting Fired From Her Job. Company Releases Statement.

    06/19/2020 5:04:06 AM PDT · by Red Badger · 115 replies ^ | Jun 18th, 2020 | Staff
    Fox News host Tucker Carlson reported on Thursday evening that the stepmother of Atlanta police officer Garrett Rolfe, the officer who allegedly shot and killed Rayshard Brooks, has been fired from her job at a mortgage company in the area. “Until today, his stepmother, her name is Melissa Rolfe, was the HR director at a place called Equity Prime Mortgage in Atlanta, Georgia,” Carlson said. “But today, she was let go. She’s no longer in that role, apparently she was fired and her only crime was being officer Rolfe’s stepmother.” “According to a source familiar with the matter who spoke...
  • Cancel the Rents, Mortgages: Midlands taking part in nationwide car protests, also supporting movement against police brutality

    05/29/2020 10:14:38 AM PDT · by buckalfa · 43 replies
    WIS TV ^ | May 29, 2020 | Emily Scarlett
    COLUMBIA, S.C. (WIS) - Protestors across the nation are planning to take part in car demonstrations, Saturday, May 30, asking state leaders to temporarily cancel all rent and mortgage payments in response to the coronavirus pandemic. Here in the Midlands, they’ll be gathering at the parking lot of the Full Gospel Word and Worship Center on North Main Street in Columbia. Organizers have recently added a new component to the upcoming demonstration. In addition to calling on the cancellation of rents and mortgages, participants are also being asked to bring signs calling for an end to police brutality and violence...
  • Fannie, Freddie May Soon Buy Home Loans in Forbearance to Help Mortgage Firms

    04/21/2020 10:11:22 AM PDT · by Theoria · 17 replies
    The Wall Street Journal ^ | 20 April 2020 | Andrew Ackerman
    A top U.S. regulator is considering taking steps to ease strains on mortgage companies facing a cash crunch as millions of Americans struggling with fallout from the coronavirus suspend their monthly payments, according to people familiar with the matter. The Federal Housing Finance Agency is weighing whether to allow Fannie Mae and Freddie Mac, the government-controlled mortgage-finance giants, to buy home loans that recently entered forbearance, meaning borrowers have stopped making payments, the people said. That would help nonbank mortgage companies that lend to home buyers and then quickly sell the loans to Fannie and Freddie. The strategy was upended...
  • Coronavirus economic threat -- A mortgage industry calamity is looming

    04/15/2020 7:14:25 AM PDT · by littleharbour · 35 replies
    Fox Business ^ | April 15, 2020 | FoxBusiness
    Under the CARES Act, Congress has invited millions of Americans to stop paying their mortgages. The impact of this massive unfunded mandate is that the U.S. financial system is headed for a potential default when the cash flow expected from millions of Americans does not arrive.
  • JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens

    From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value.
  • From ‘Obama will pay my mortgage’ to ‘Bernie will pay my tuition’

    03/01/2020 6:47:38 PM PST · by SeekAndFind · 10 replies
    Christian Post ^ | 03/01/2020 | Michael Brown
    Do you remember Peggy Joseph? She was the young voter who heard candidate Barack Obama speak in 2008 then said on camera, “I won’t have to worry about puttin’ gas in my car, I won’t have to worry about payin’ my mortgage.”By 2013, Joseph’s tone had turned dramatically.She was asked by filmmaker Joel Gilbert, “Did Obama pay for your mortgage and did he pay for your gas?”She responded with a laugh: “Absolutely not! Mortgage got worse and gas prices got higher … At that time we needed a change but a change for the better not the worse.”In her mind,...
  • ‘Ok math WHIZ’: William Shatner takes troll apart with simple math (TR)

    11/10/2019 11:44:35 AM PST · by DFG · 43 replies
    Twitchy ^ | 11/10/2019 | Sam J
    William Shatner is one of our very favorite accounts on Twitter mainly because he just sort of hangs out with normal, everyday people which usually leads to him slapping trolls around. You know, like the rest of us. He’s not focused on pushing some social justice movement or complaining about Trump like other celebrities … nope. Usually, he’s talking about various projects he’s working on while schooling ‘younguns’ about this or that. For example:
  • Digital mortgage lender to bring 1,000 jobs to Charlotte over 5 years (North Carolina)

    09/28/2019 3:09:55 AM PDT · by 2ndDivisionVet · 3 replies
    WSOC-TV ^ | September 16, 2019
    CHARLOTTE, N.C. - Mayor Vi Lyles announced Monday that is now calling Charlotte home. The digital mortgage lender said it plans to hire 1,000 people over the next five years, with 100 employees hired by the end of 2019. Digital mortgage lender to bring 1,000 jobs to Charlotte over 5 years CHARLOTTE, N.C. - Mayor Vi Lyles announced Monday that is now calling Charlotte home. The digital mortgage lender said it plans to hire 1,000 people over the next five years, with 100 employees hired by the end of 2019. [ALSO READ: Fortune 100 company Honeywell bringing HQ,...
  • After the Mortgage Crisis Bailout: Have Fannie and Freddie Paid the Taxpayers Back Yet?

    09/20/2019 11:52:59 AM PDT · by SeekAndFind · 4 replies
    RCM ^ | 09/20/2019 | Alex Pollock
    The distinguished judges of the U.S. Court of Appeals for the Fifth Circuit have considered how much Fannie Mae and Freddie Mac have paid the Treasury Department to compensate the taxpayers for the giant bailout which kept Fannie and Freddie in existence and business. The court observed in its September 6 judgment: “The net worth sweep transferred a fortune from Fannie and Freddie to Treasury.” Specifically, “Treasury had disbursed $187 billion and recouped $250 billion.” The “net worth sweep” is the dividend on the senior preferred stock in Fannie and Freddie acquired by the Treasury in the bailout. Originally set...
  • Banks Fire Up Their Mortgage Machine for a Refinancing Boom

    09/18/2019 4:19:16 AM PDT · by 2ndDivisionVet · 22 replies
    Yahoo! Finance ^ | August 29, 2019 | Hannah Levitt and Claire Boston
    Lenders thought it was time to shrink their mortgage businesses. Now they’re finding they were wrong. With rates for home loans sinking to their lowest levels since late 2016, Wells Fargo & Co., the biggest mortgage lender in the U.S., has boosted staffing for the business by about 10% this year and plans to keep hiring. Bank of America Corp. is hiring in areas including sales, processing, and underwriting. The mortgage industry has added almost 5,000 employees since March, a 1.5% gain, according to the Bureau of Labor Statistics. It’s a stark reversal from a year ago, when the Federal...
  • Trump signs Sinema bill to protect vets from predatory mortgages

    08/13/2019 11:13:15 AM PDT · by KC_Lion · 26 replies
    AZPM ^ | 29 July 2019 | Christopher Conover
    (Audio Link at Source)President Trump signed Sen. Kyrsten Sinema's bill July 25. The proposal closes a loophole in federal law that allowed some veterans to get caught up in predatory home refinance deals. The problem was certain VA loans could be easily churned, or resold. The new law prevents that from happening before a cooling-off period. "So veterans won't get stuck with these refinancing fees over and over again," said Sinema.
  • Kamala Harris Wants To Trigger Another Mortgage Crisis

    07/09/2019 7:25:12 AM PDT · by Kaslin · 30 replies ^ | July 9, 2019 | Lawrence Meyers
    Sen. Kamala Harris (D-CA) rolled out a plan to offer grants up to $25,000 to low-income black individuals to help with a down payment and closing costs on home purchases.At first glance, to the economically uninformed, this seems like it's a good idea. We want as many people as possible to own homes for many obvious reasons.Why not subsidize low-income buyers with a $25,000 grant? This would mean that it would be easier to buy a house in a low-income area. The more houses that are bought, the higher the demand, and prices will rise, benefitting everyone.But as with all...
  • Vanity Post- need financial/legal help for a friend.

    04/01/2019 8:20:05 AM PDT · by MissEdie · 47 replies
    self | 4/1/2019 | MissEdie
    Freepers, whenever I have needed wisdom and great help ya'll have always come through! I'm hoping ya'll can help a dear friend of mine who is 15 days away from closing on her house when an issue arose. Bottom line is they need a letter from Chase Mortgage certifying their house/credit is in good standing to sell, but they are refusing because they are saying they have 2 mortgages on their house-but they don't. Even their credit checks stipulate one outstanding loan and it shows them in good credit. Apparently back in 2004 they refinanced their mortgage, they used the...
  • Trump Ends Obama's Taxpayer-Funded Mortgages for Illegal aliens

    04/01/2019 6:50:04 AM PDT · by qaz123 · 38 replies
    Canada Free Press ^ | 01April19 | D Greenfield
    Obama illegally implemented DACA, they were also allowed to apply for FHA loans. How many illegal aliens obtained FHA loans? FHA loans are government-backed mortgages meant for poorer Americans unable to qualify for normal mortgages. Democrat abuse of the FHA helped lead to the Great Recession and in the years afterward, FHA insured loans hit losses of $70 billion. By 2012, the FHA was $16 billion in the hole and had to be bailed out. The delinquency rate for FHA loans is still more than three times higher than normal loans, and depending on the period, have hovered between 8%...
  • Trump Stops Taxpayer-Backed Mortgages for Illegal Aliens

    03/26/2019 7:17:40 AM PDT · by SeekAndFind · 28 replies
    Frontpage Mag ^ | 03/26/2019 | Daniel Greenfield
    When Barack Obama implemented his unilateral amnesty for illegal aliens who claimed to have entered this country before the age of sixteen, the illegally amnestied illegals qualified for many benefits. One of these were FHA loans. FHA loans are government-backed mortgages meant for poorer Americans unable to qualify for normal mortgages. Democrat abuse of the FHA helped lead to the Great Recession and in the years afterward, FHA insured loans hit losses of $70 billion. By 2012, the FHA was $16 billion in the hole and had to be bailed out. The delinquency rate for FHA loans is still more...
  • Calif. Gov. Signs Law to Circumvent Mortgage Settlement Fund Usage

    09/16/2018 9:24:19 AM PDT · by RideForever · 13 replies ^ | Sept. 11, 2018 | © 2010-18 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
    California Gov. Jerry Brown has signed into law a bill authored by the Democrat-controlled legislature that voids a court order mandating the repayment of $331 million to a special fundcreated to help victims of foreclosure abuse during the mortgage crisis. ...
  • Homeowners ain't mortgagin' as much

    09/14/2018 8:12:30 AM PDT · by Tell It Right · 22 replies
    MarketWatch ^ | 9/14/2018 | Andrea Requier
    American homeowners have amassed a record $6 trillion in equity in their properties, a figure boosted by surging home prices and a trend of owners staying put longer. But rising interest rates and caution resulting from the housing troubles of a decade ago are limiting how much of that equity is getting tapped.

    08/18/2018 9:26:18 AM PDT · by RideForever · 53 replies
    Foreclosure Defense Nationwide ^ | July 26, 2018 | Jeff Barnes, Esq.,
    Today, during a deposition of the designated representative of the Bank of New York as Trustee for a Countrywide CWMBS securitization, the representative (who is an attorney and employee of the servicer Shellpoint) admitted under oath that MERS is not the true beneficiary of a Deed of Trust (DOT) despite claiming to do so, as the Beneficiary is the lender and MERS is not and was never the lender. The representative also admitted that the Substitution of Trustee filed by a law Firm and signed by Shellpoint (as a dba of New Penn Financial) contained a false statement that the...
  • Minor League Baseball Player Pays Off Parents’ Mortgage for Christmas

    12/26/2017 5:15:34 PM PST · by Tolerance Sucks Rocks · 17 replies
    As a heartwarming Christmas gesture, a newly signed minor league baseball player used part of his draft bonus to pay off his parents’ mortgage. In a viral video shared on Twitter, Arizona Diamondbacks prospect Pavin Smith tweeted a video of his parents reacting to a letter he wrote detailing that he wants their home to be officially theirs: