Eligible borrowers could save hundreds and see closing times slashed
Freddie Mac expects $172 billion less in mortgage originations if the current pace of cash sales continues
With the ongoing housing recovery unfolding in various regional markets across the United States, many house hunters are concerned about hastening their real estate transaction in the hopes that they will get in at the right time.
The Consumer Financial Protection Bureau (CFPB) has been on a rulemaking roll lately, and one of its most recent announcements concerns loan originators and their key role in the mortgage industry.
For the ostensible ground zero of the 2008 housing crash, California has mounted a sturdy rebound in both property values and home closing rates.
With the announcement of new rules governing the mortgage servicing industry in the United States, the Consumer Financial Protection Bureau has effectively changed the way home loans are managed after borrowers leave the closing table.
Mortgage servicing in the United States is a lucrative industry that is not known for its willingness to help troubled borrowers.