Category Archives: Banking

HSBC Mortgage Customer Data Breach Discovered

In a statement, HSBC Finance Corp. informed its customers in the United States about the inadvertent disclosure of mortgage customer data online. The data leak was discovered on March 27th 2015. According to a spokesman for the bank, the problem

Additional Assistance for Home Buyers Using HomePath Mortgage Loans

Fannie Mae has formally announced the launching of the HomePath Ready Buyer program, which is designed to assist first-time home buyers using the company’s HomePath mortgage. Qualifying borrowers will receive assistance with closing costs of up to 3% of the

New Rules for Reverse Mortgages Getting into Effect

The Federal Housing Administration will implement a set of new rules regarding reverse mortgage on April 27th 2015. New credit and income requirements will apply. Applicants will have to undergo several specially designed tests for creditworthiness evaluation. The FHA has

Home Purchase Mortgage Applications Highest Since July 2013

The volume of applications for home purchase loans rose to its highest level in 21 months during the week ended April 3rd 2015, according to the Weekly Mortgage Applications Survey of the Mortgage Bankers Association. This was its third consecutive

Minor Changes in Mortgage Rates

The average interest rates of home mortgage loans barely moved during the week ended April 2nd 2015 compared to the week before. This is revealed in the results of the Primary Mortgage Market Survey of Freddie Mac. The average rate

Small Decrease in the Mortgage Applications in December

home mortgage

The Mortgage Bankers Association reports a decline of 0.4% in the mortgage applications for the purchase of a new home in December 2014 compared to November. The movement in the applications does not reflect any common seasonal patterns. The share

Rise in Mortgage Delinquency in November from October

mortgage (2)

The mortgage delinquency rate in the United States rose to 11.82% in November 2014, according to Black Knight Financial Services. This was revealed in a report based on the first look at the mortgage data for this month made by

Lower FHA Insurance Premiums to Take Effect by the End of January

new-home-mortgage

After President Barack Obama announced a plan for the reduction of the mortgage insurance premiums for FHA loans, the Federal Housing Administration confirmed that the new premiums will be applied from January 26th 2015 onwards. Currently, the annual premium rate

Mortgage Applications Go Up Driven by Refinance

mortgagerates

The applications for mortgage loans in the United States rose by 7.3% in the week ended December 5th 2014. This is revealed by the data in the Weekly Mortgage Applications Survey of the Mortgage Bankers Association. The seasonally adjusted Market

Mortgage Rates Keep a Steady Low Course

mortgage (1)

The average rate on a 30-year fixed-rate mortgage remained below 4% during the week ended November 26th, according to Freddie Mac. The company’s Primary Mortgage Market Survey found that it dropped to 3.97% from 3.99% in the previous week. The

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