Mortgages

Bank of America will launch a 3% down payment home loan in partnership with Freddie Mac, but will not retain any risk if the loans default. That’s because B of A will immediately will sell the loans and servicing rights to Self-Help Federal Credit Union, a Durham, N.C., community development lender.

The government-sponsored enterprise was enthusiastic about launching the 97% loan-to-value product when it announced it in December 2014. But it has yet to become a sizable part of Fannie's business.

Shoppers who finance the purchase of cars, furniture and home improvements are protected under a decades-old federal regulation. Now consumer groups are urging the FTC to update its rule and consider offering the same protections to victims of home-mortgage or auto-leasing scams.

The Consumer Financial Protection Bureau acknowledges that gearing up for the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosures has been tough, and it promises to consider that fact in exams.

The decision in Yvanova v. New Century Mortgage Corp. has the potential to radically increase the number of lawsuits brought by borrowers, particularly on loans that were pooled into securitized trusts.

Federal Housing Finance Agency Director Mel Watt stopped short of calling for Treasury to recapitalize the government-sponsored enterprises, but said "something needs to be done" before they run out of capital.

Mortgage servicers are actively discussing with regulators how current rules could be streamlined, and future rules could be shaped, to minimize costs and hassles.

Lenders are still holding on to scores of delinquent mortgages that date to the real estate crash, but a surge in home values across the country is motivating them to move the most troublesome loans off their books more quickly.

The Mortgage Bankers Association increased its 2016 industry originations forecast to $1.48 trillion from its January projection of $1.38 trillion to reflect market turmoil that has held interest rates down.

Freddie Mac on Thursday reported strong fourth quarter and year-end profits driven by a surge in demand for both home purchase and apartment loans.

Troubled loans no longer overwhelm the market, but there could be smaller outbreaks that servicers must be ready to deal with, a real estate services vendor says.

The Federal Housing Finance Agency is launching a 10-day social media campaign, #HARPNow, to alert struggling homeowners in 10 states that they can still refinance via the program before it expires at year-end.

The mismatch between demand for new homes and the supply threatens to drive up prices and dampen lending.

Home equity portfolios have shrunk at banks, but credit unions and nonbank lenders like loanDepot helped fuel the surge in home equity lines last year.

Low borrowing costs and rising home values are just two of several reasons owning a home is far less burdensome than it was a decade ago.

Fannie and Freddie have been selling pools of delinquent mortgages at auction to the highest bidders. Community groups say the Federal Housing Finance Agency should be giving preferential treatment to nonprofits and community development financial institutions.

Flagstar Bancorp in Troy, Mich., has launched a national homebuilder lending platform.

The Federal Housing Administration will continue to charge borrowers an annual premium over the entire life of the loan, rejecting calls from some housing advocates to change how it’s calculated.

The Detroit company is plowing ahead with its growth strategy at a time when some shareholders are agitating over its sagging share price.

Fifth Third Bancorp in Cincinnati said Thursday that it will spend $27.5 billion over the next five years to provide loans and other financial services to underserved communities in its region.