Foreclosures increased for the eighth consecutive month in October, as high costs continue to push activity toward pre-pandemic levels. Total foreclosures in the United States eclipsed 36,000 last month, up 3% from September and 19% from the same time a year ago, according to ATTOM‘s latest foreclosure market report. “Even with these increases, activity remains […]
Foreclosures climb for eighth straight month Read More »
Amerisave Mortgage faces a new class action lawsuit that alleges it violated the Telephone Consumer Protection Act after it attempted to contact an individual on the Do Not Call registry. In documents filed in federal court in the Northern District of Georgia late last month, attorneys for plaintiff Erin Wilson noted she had listed her
Amerisave hit with new TCPA class action suit Read More »
Al Drago/Bloomberg What’s at Stake: The bureau acknowledges that the elderly, minorities and people with low incomes may be harmed by the changes. Expert Quote: The proposed rule “will effectively invite a return to redlining and exclusion,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition. Key Insight: The CFPB claims the
CFPB to gut indirect discrimination in civil rights rule Read More »
After the Federal Open Markets Committee reduced short-term rates by 25 basis points at each of its two most recent meetings, economists are mixed on whether the December meeting will have a third cut, the November Wolters Kluwer Blue Chip Economic Indicators study found. The survey was taken on Nov. 4 and 5, prior to
December Fed rate cut still on the table for most economists Read More »
A new class action lawsuit accuses Zillow of a massive kickback scheme in steering thousands of borrowers to its allegedly more expensive in-house financing business. Araba Armstrong, an Alaska homebuyer who used Zillow’s services, is accusing the real estate giant of violating the Real Estate Settlement Procedures Act. Her complaint filed in a Washington federal
Zillow violated RESPA in agent, mortgage businesses: Lawsuit Read More »
Key insight: Bessent says Trump policies boost Treasury market, lower borrowing costs. Supporting data: Treasury returns are up 6% this year. Forward look: Treasury to keep auctions steady, avoid market shocks. Treasury Secretary Scott Bessent Wednesday said the administration’s economic policies were addressing affordability for Americans.Speaking Wednesday at the New York Fed’s Treasury Market Conference
Bessent credits Trump policies for bond market Read More »
David Paul Morris/Bloomberg Key Insight: Federal Reserve Bank of Atlanta President Raphael Bostic, the first black and openly gay head of the regional bank, will end his term in early 2026. Until a successor is appointed, Cheryl Venable, vice president of the Atlanta Fed, will step in to fill the role. Expert Quote: “I’m proud of
Atlanta Fed President Bostic to retire in early 2026 Read More »
The Senate-approved budget extender has several provisions around the Veterans Affairs partial claims program to help distressed borrowers. In particular, one section of the bill is called in part Improvements to Partial Claim Program. A change extends the period for a second partial claim filing following a natural disaster to 180 days from 120 days.
Senate-approved budget bill adds VA partial claims extension Read More »
The Federal Home Loan Bank System has an economic benefit at least nearly twice the size of a Congressional Budget Office estimate of its implied-guarantee cost, new research shows. The system has at least a $13.2 billion benefit annually, 1.9 times what the CBO has estimated is its main $6.9 billion government subsidy, according to
FHLBank benefits at least 1.9 times guarantee costs: study Read More »
A change in mindset, away from the transactional and more towards creating relationships has led to higher customer satisfaction scores, improved trust and increased levels of brand loyalty, the latest J.D. Power survey found. But in what can be termed as a surprise in the results, Citi had the highest score in the 2025 U.S.
Citi tops J.D. Power mortgage satisfaction rankings Read More »