mortgage lending

• Illinois League Touts New State Foreclosure Law

  By Peter Strozniak  |  February 13, 2013

  New legislation expedites foreclosure process for abandoned residential properties.

• Mortgage Delinquency Rates Keep Dropping

  By David Morrison  |  February 12, 2013

  TransUnion says rate of mortgage holders more than 60 days behind now at 5.19%, primarily driven by older loans.

• Florida Court: Fraud Allegations Can't Force Re-Opening of Voluntarily Dismissed Foreclosure Cases

  By Julie Beck  |  February 11, 2013

  In robo-signing case, state Supreme Court finds voluntary dismissals can't be reversed unless plaintiff got relief, dismissal kept court from remedying the fraud.

• Cordray: Regulators Shouldn’t Steer Lenders to Qualified Mortgages

  By Heather Anderson  |  February 8, 2013

  Director tells CFPB briefing that new rules aren’t intended to pressure lenders into meeting QM standards on all mortgages.

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  Purchase-Money Lending May Be Ready to Blast Off

  By David Morrison  |  February 6, 2013

  Credit unions may have their best opportunity ever to boost the portion of mortgage loans that actually go to purchase homes as opposed to loans that refinance previous notes.

• Mortgage Processor LPS Reaches $127 Million Settlement with States

  By Heather Anderson  |  January 31, 2013

  Major mortgage processor resolves complaints over robo-signing; settlement with 46 states and District of Columbia.

• Credit Unions Evade Most New Mortgage Rules

  By Heather Anderson  |  January 30, 2013

  The Consumer Financial Protection Bureau released final mortgage rules that restrict loan originator compensation methods and increase the level of service loan servicers must provide to borrowers. However, due to the way credit unions already do business, trade associations say neither rule will have a major impact on the industry.

• Five New York CUs Join CUC Mortgage Client List

  By David Morrison  |  January 23, 2013

  CUC Mortgage Corp., a mortgage CUSO affiliated with the Credit Union Association of New York, ended 2012 with the addition of five more New York credit unions.

• GTE Financial Helps Members Seek Refinance ‘Harmony’

  By Michelle A. Samaad  |  January 22, 2013

  Florida credit union works with financial services tech firm to offer web-based refinance app for cars and mortgages.

• CFPB Rule Requires Free Appraisal Copy for Borrowers

  By Heather Anderson  |  January 18, 2013

  Lenders may still recover the cost of obtaining the appraisal, but not for providing a copy to the borrower.