The Senate Banking Committee has set a hearing to examine the reforms next week
An improvement in senior home values helps drive the increase
U.S. homeowners suing mortgage companies once owned by a major bank won a $54.8 million class action lawsuit over excessive late fees.
The nation lost $6.3 trillion between 2007 and 2011, but total home values have increased for the past three years in almost every major metro area in the country. However, the average value of homes is still below its 2006 peak.
U.S. equities jumped 5% in the past three sessions as Fed Chair Janet Yellen said the central bank will likely hold key rates near zero at least through the first quarter, even as the U.S. economy strengthens.
The real estate market is going to continue to pick up; properties are still affordable and rates are still good. How do I get into this market? Should I do loans or real estate or both?
Could other states soon follow? Proponents claim the changes will cut costs for mortgage professionals in the state, while critics say they would dilute protections for borrowers.
And so it begins. Mortgage companies are beginning to announce their options for home buyers that will allow for down payments as low as 3%