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Monday suggested that Congress take a closer look at any legal liabilities that could arise as financial institutions put the new rules into practice. Many credit unions have indicated they would not be able to comply with the regulations on time...
Wealthy home buyers signed up for these loans in droves last year because of their low rates and flexible repayment options. The total dollar amount of originated private jumbo mortgageswhich exceed $417,000 in most parts of the country and $625,500
Starting Jan. 10, a bevy of new rules will come into play, affecting future homebuyers nationwide...So, with that said, here are the three biggest changes coming down the pipeline...If there's one thing that played a role in the last crisis, it's
CliftonLarsonAllen, one of the Twin Cities' largest accounting firms, said Thursday it has acquired Bankers Advisory Inc., a Boston-area mortgage compliance consultant, in a move to beef up its ability to help lenders comply with complex new mortgage
The rules make stricter lending practices official, but may not actually change much of the industry's day-to-day practices because lenders have already tightened their credit standards in response to the housing crash. "The new rules are really more
The UAE Banks Federation (UBF), the representative body of banks operating in the country will recommend penalties for banks and bank employees found flouting the recently announced mortgage rules, senior bankers said. The UBF recently adopted a code
The changes largely set in stone current industry practice, but they will make interest-only loans harder to get, and some lenders fear they could further choke a constricted market. "Credit is too tight, and you won't know when you have overdone it,"
Consumers shopping for a home might want to pick up the pace: Getting a mortgage will likely become more challenging and costly next year. Loan limits for popular mortgages are scheduled to drop in January, according to a Wall Street Journal report
Bangko Sentral ng Pilipinas (BSP) as it seeks to tighten its oversight of credit feeding a booming real estate industry. A document detailing proposed underwriting standards for housing loans, said Bangko Sentral ng Pilipinas (BSP) Managing
Even as federal regulators recently cracked down on loose mortgage lending, they hoped that credit unions and community banks would serve as a haven for marginal borrowers. Such neighborhood institutions know their customers, the theory goes, so they