Freedom Mortgage Has Biggest Jump in Complaints
Mortgage complaints have risen at a faster pace than complaints for all financial services, and Freedom Mortgage Corp. had the biggest increase.
Mortgage Turnaround, Closing Rate Improve
Mortgage originators shaved a couple days off of processing time for home loans and lifted the closing rate on last month's closings.
Tighter Mortgage Credit Led by Conventional
The availability of credit for residential lending was slightly tighter last month, and it was conventional mortgage lending that tightened the most.
Consumer Bankruptcies Increase Again
For the second month in a row, more consumers resorted to bankruptcy than the prior month. On the business side, plunging oil prices are having an impact.
Genworth Loosens M.I. Requirements
Updates at Genworth Mortgage Insurance include new construction programs, higher loan-to-value ratios and lower credit score requirements.
Mortgage Complaints Up More than Overall Complaints
Compared to a year ago, complaints filed by consumers against residential loan firms have risen more than complaints filed against all types of financial services providers.
Q1 Mortgage Conditions Weak, Improvement Expected
Senior mortgage executives say credit standards tightened and demand softened over the past three months, though demand is expected to improve.
Record High Mortgage Closing Rate
The share of mortgage applications to close reached the highest level on record last month. In addition, the time it took to process and close a loan improved by four days likely as a result of increasing familiarity with new TRID disclosures.
Women Better at Credit Than Men
A new report indicates that female consumers are better than their male counterparts at managing their credit scores, bill paying and finances.
SunTrust Has Mortgage in 50 Cent Bankruptcy
SunTrust Banks Inc. has a mortgage that is tangled in the Chapter 11 bankruptcy case previously filed by rap artist 50 Cent.