Mortgage application activity was on the rise in the latest data from the Mortgage Bankers Association (MBA) for the week ending Jan. 31. The Market Composite Index, the MBA’s measure of mortgage loan application volume, inched up 2.2% on a seasonally adjusted basis...
The president of a California mortgage company was arrested for allegedly driving drunk and causing the vehicular death of an 88-year-old man. ABC News reports that Serene Vernon, president of OCMBC Inc., was arrested on suspicion of driving under the influence and...
Houston-headquartered Cornerstone Capital Bank has debuted a Community Lending Division with the goal of expanding homeownership opportunities for underserved communities across the nation. The new division will be based in Arlington, Texas, and the bank stated it...
The governor of the Bank of England has issued a warning that proposals by the UK government to relax limits on riskier mortgage lending could start a new wave of home repossessions. The Financial Times reports that Andrew Bailey warned Parliament that he was “very...
Mortgage rates remained elevated in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.95% as of Jan. 30, down slightly from last week when it averaged 6.96%. A year ago at this time, it...
Mortgage application activity decelerated for the week ending Jan. 24, according to data from the Mortgage Bankers Association (MBA); the data included an adjustment for the Martin Luther King Jr. holiday. The Market Composite Index, the MBA’s measure of mortgage loan...
Escrow Abuse in the Spotlight: What the McKenna Case Means for Real Estate …
