Category:
Real Estate

New mortgage rules protect consumers

New Rules Protect Consumers from Overzealous Mortgage Lenders

By Bill Fay | January 11, 2013

A new federal regulation puts the onus on lenders to take meaningful steps to ensure a person can afford a home loan, before they actually give them one. The “ability-to-repay”…

Bank of America settlement

Bank of America to Pay $10B to Fannie Mae to Settle Claims

By Bill Fay | January 7, 2013

The first week of 2013 has not been a happy new year for some of the nation’s largest banks, particularly Bank of America. On Monday, Bank of America agreed to…

Fix-and-flip houses

FHA Extends Program that Allows Quick ‘Flips’ of Properties

By Bill Fay | December 17, 2012

As the nation continues to wrestle with high unemployment rates and a recuperating real estate market, the Federal Housing Administration (FHA) decided to continue one of its popular programs. The…

Housing market

Housing Market Expected to Rebound in 2013

By Bill Fay | December 7, 2012

With just a few weeks remaining until the end of the year, millions of Americans are seeking ways to make 2013 better, especially from a financial perspective. From making new…

FHFA

Obama Eyeing New Leader for Federal Housing Finance Agency

By Bill Fay | December 6, 2012

Facing increased scrutiny from housing advocates and community groups, President Barack Obama is being asked once again to sidestep political protocol to replace Ed DeMarco, the acting head of the…

Housing market rebounds

Foreclosures on Hold for Holidays as Housing Market Slowly Recovers

By Bill Fay | December 4, 2012

With an improving economy and programs aimed at helping homeowners stay current with their mortgages, housing-market analysts say that 2012 will prove to be a turnaround year for homeowners and…

Dream Home

Five Reasons to Refinance Before 2013

By Katherine Pilnick | November 5, 2012

Mortgage refinancing is a great option for any homeowner who doesn’t have the lowest interest rate possible on his or her mortgage. It effectively creates a new mortgage at current…

mortgage-lender-image

Time to Nationalize America’s Mortgage Industry

By Bill Fay | October 29, 2012

What if the federal government nationalized the mortgage industry and became the sole originator, servicer, guarantor and holder of all home loans across the country? You know, sort of a…

bank of america building image

Bank of America Sued For $1 Billion Over Fraud Allegations

By Bill Fay | October 24, 2012

The United States Department of Justice sued Bank of America today for more than $1 billion, accusing the company of deliberately generating substandard home loans and selling them to Fannie…

national banks image

States Do Right and Wrong with Millions from Federal Settlement

By Bill Fay | October 23, 2012

Earlier this year, the federal government, the District of Columbia and 49 state attorneys general negotiated a financial agreement with five of the country’s largest banks: Ally (formerly GMAC), Bank…