CFPB Has ‘Zombie Foreclosures’ In Its Crosshairs



The Consumer Financial Protection Bureau is targeting “zombie” foreclosures, a growing problem where borrowers may unknowingly still own a property that they thought the bank had foreclosed upon.

New Mortgage Rules to Stall Housing Recovery?



Mortgage credit could be greatly restricted by the Consumer Financial Protection Bureau’s new Qualified Mortgage rule, throwing a major obstacle in the way of the housing recovery, warned lawmakers and mortgage industry leaders during a House Financial Service Committee hearing on Tuesday.

New Lending Rules Could Prevent Many from Getting a Mortgage



New lending rules have been written by the Consumer Financial Protection Bureau (CFPB), and they could mean that many people will be unable to get a mortgage. According to the article by AOL Real Estate, the new rules will limit people from taking out a new loan or from refinancing an existing one if it puts their overall household borrowing in excess of 43% of their income.

Rule Changes to Reduce Some Mortgage Fees



Tighter mortgage lending regulations proposed by the Consumer Financial Protection Bureau will limit the fees that consumers are required by lenders to pay when they buy a home. One of the biggest proposed changes is to do away with origination fees, or origination points, which are levied at the close of the deal.

Groups Seek to Stop Forced Homeowners Insurance



One of the main requirements for securing a mortgage is homeowners insurance. Lenders want to protect their investments, and so they will nearly always insist on this requirement. This insistence is taken to extremes when a homeowner forget to renew their home insurance policy – the lender will do so for them, forcing them to pay for homeowners insurance that is often very expensive.

Sign up Now and get our guide on Facebook for Real Estate Professionals for Free

Sign up to the Realty Biz News mailing list to get updates from our site and also get our guide to Facebook marketing for Real Estate professionals for free