Rising mortgage rates and strong price appreciation lead to one of the largest quarterly increases in mortgage burden on record
The bureau's interim director said it continues to be associated with the principles of the person who founded it
As home inventory and interest rates remain low in many parts of the nation, consumer confidence in housing is beginning to return. This is particularly true in California where supply cannot meet the demand of new homebuyers and investors. It is not uncommon that reasonably priced listings receive a deluge of competing offers. With the additional availability and attractiveness of owning a bank-owned property (more house for less money), some brokers have received more than 80 offers on one REO property. With the level of multiple offers at a record high, managing and securing the best offers while maintaining quality service may prove challenging.
Possible fraudulent lending activity increased last year just as the Consumer Financial Protection Bureau prepared to issue new regulations requiring lenders to verify borrowers’ financial records and ability to repay mortgages.