The New York State Department of Financial Services (DFS) is proposing to expand the state’s version of the Community Reinvestment Act (CRA) to include nonbank mortgage lenders. DFS Superintendent Adrienne A. Harris raised the idea by pointing to the increased...
The Consumer Financial Protection Bureau (CFPB) has finalized a rule covering existing residential mortgage protections to Property Assessed Clean Energy (PACE) loans. PACE loans are used by homeowners for clean energy upgrades and disaster readiness that are paid...
A New Jersey real estate investor was sentenced to five years in prison and ordered to pay $22 million in restitution for his role in a $54.7 million multi-year mortgage fraud scheme. Aron Puretz was an employee of Apex Equity Group, a real estate investment and...
Mortgage application activity recorded a slight decline in data from the Mortgage Bankers Association covering the week ending Dec. 13. The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 0.7% on a seasonally adjusted basis...
Single-family housing starts in November were at a rate of 1.01 million, according to new data from the US Census Bureau and the US Department of Housing and Urban Development. This is 6.4% above the revised October figure of 950,000. Privately-owned housing starts in...
Hits and Misses for the Real Estate Week of May 11-15
