CFPB cuts short monitoring of BofA mortgage practices

The Consumer Financial Protection Bureau (CFPB) cut short a five-year agreement with Bank of America over the bank’s alleged submissions of false mortgage data. The agreement was supposed to be in place through at least November 2028.In a filing made public Monday, the CFPB said the bank “fulfilled
Read MoreJerome Powell says the Fed isn’t budging on interest rates
The Federal Reserve has come under renewed fire from the Trump administration in recent weeks as the president and key housing officials battle with Chair Jerome Powell over the direction of interest rates.On Tuesday, while speaking to members of the House Financial Services Committee, Powell was re
Read MoreFour charts that perfectly illustrate the housing affordability crisis
Look at all the variables at play in the housing market and it’s hard not to feel pessimistic about the affordability crisis.Mortgage payments continue to increase thanks to high mortgage rates, home insurance premiums are on the rise in markets vulnerable to natural disasters and the rent is still
Read MoreWhy it’s time to rethink the appraisal default in home equity lending

With mortgage rates still hovering near multi-decade highs, homeowners are opting to hold onto their ultra-low first mortgages. Instead of refinancing, they’re tapping into their equity through home equity loans and HELOCs to finance renovations, cover tuition, or consolidate high-interest debt. Len
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