Mortgage lenders were warned by regulators yesterday they must take “urgent” steps to ensure fair treatment of customers in arrears. Lenders may face disciplinary action if they do not comply with new rules by a January 31 deadline, the Financial Services Authority said.
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Wall Street rallied again Wednesday thanks, in part, to a new plan to boost mortgage lending. On Tuesday, a new Federal Reserve program drove down the rate on a 30-year fixed mortgage, from an average of 6.8 percent to 5.5 percent. Unfortunately, a good number of homeowners and homebuyers tempted by the new low rates are going to find that they don’t qualify.
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The Financial Services Authority (FSA) has written to the chief executives of all mortgage lenders and mortgage administrators giving them until January 31 to ensure that their customers facing arrears are being treated fairly.
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Asian markets head up Thursday … Woolworths stores may find a buyer … Union, Labor admit to secret funding deal … Consumer spending likely to fall … News from United Press International.
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(ARA) - Over the past year, we’ve been inundated with daily headlines about the growing foreclosure crisis.
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North Jersey mortgage lenders expect a surge in refinancings as a result of Tuesday’s interest rate plunge, but are less optimistic about the government’s ability to prompt a turnaround in home sales anytime soon.
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(ARA) - As first-time homebuyers grow curious about the home-buying process, they often turn to friends and family for advice about purchasing a home. While these sources can provide useful tips and information, they also may perpetuate some common home-buying myths.
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The federal government is about to send $35 million to Central Florida to help prop up neighborhoods hurt by home foreclosures — and companies big and small are lining up for a piece of the action.
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Realtors and lenders joined forces with the Greater Oklahoma City Chamber and Mayor Mick Cornett to send a carefully orchestrated message Tuesday that everything is fine in Oklahoma City.The news conference at City Hall was packed with facts and figures aimed at convincing potentially panicky home buyers that they face no more risk than they did a year ago.Chamber president Roy Williams was the …
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A sharp plunge in U.S. mortgage rates prompted a rush to refinance, resulting in record-setting business Tuesday at Livonia-based Quicken Loans and big days for other lenders.
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