Posts Categorized: TFS Blog

Mortgage delinquencies among some homeowners just spiked, spelling trouble

A troublesome signal just appeared in the housing market and could put taxpayers at risk. Federal Housing Administration mortgage delinquencies jumped in the fourth quarter for the first time since 2006, the Mortgage Bankers Association reported Wednesday. The FHA insures low down-payment loans and is a favorite among first-time homebuyers. The seasonally adjusted FHA delinquency… Read more »

CFPB orders Prospect Mortgage to pay $3.5 million for improper mortgage referrals

The Consumer Financial Protection Bureau today ordered Prospect Mortgage, a major mortgage lender, to pay a $3.5 million fine for improper mortgage referrals, in what the regulator calls an alleged “kickback” scheme. The lender paid illegal kickbacks for mortgage business referrals. But Prospect Mortgage isn’t the only one being fined. The CFPB also dealt out… Read more »

‘They’re just wrong’: A financial expert fires back at people who say you should rent a home instead of buy

For many, buying a home marks the realization of the American dream. But experts are split on whether it’s really a worthwhile investment anymore. According to author and blogger James Altucher, it’s financial suicide. He argues that purchasing a home is actually a bad investment because it ties up the majority of your money in… Read more »

The Election and Home Mortgage’s

What does a new President mean for your home? What does it mean for purchasing a new home or refinancing? Could a new administration make it a little easier to purchase a home or refinance? The hand cuffs have been on lenders since 2008 that’s a long time, I’m not saying we should go back… Read more »

Wells Fargo has more problems and is paying $50 Million for overcharging homeowners

Wells Fargo has agreed to pay $50 million to settle a racketeering lawsuit accusing it of overcharging hundreds of thousands of homeowners for appraisals ordered after they defaulted on their mortgage loans. The proposed settlement, which requires court approval, was disclosed in a filing on Friday in an Oakland, California federal court. If approved, it will resolve… Read more »