WASHINGTON – The Federal Housing Administration (FHA) today announced the agency’s new schedule of loan limits for 2016. These loan limits are effective for case numbers assigned on or after January 1, 2016, and will remain in effect through the end of the year. Read FHA’s mortgagee letters (for forward and reverse mortgage programs). Due […]
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“Your Home Loan Toolkit” Will Help Consumers Be Informed Mortgage Shoppers WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today released a new toolkit that guides consumers through the process of shopping for a mortgage and buying a house. Developed as part of the CFPB’s “Know Before You Owe” mortgage initiative, the toolkit will […]
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New Study Indicates that Consumers Access Credit Scores and Credit Reports in a Variety of Ways but Confusion Persists WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) reported that more than 50 million consumers now have free and regular access to their credit scores through their monthly credit card statements or online. Last […]
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The Federal Housing Administration (FHA) today issued a revised policy under its Home Equity Conversion Mortgage (HECM) Program giving FHA-approved lenders expanded options to allow eligible ‘non-borrowing spouses’ the potential to remain in their home following the death of the last surviving borrower. Read FHA’s new mortgagee letter. Last year, FHA amended its HECM policies […]
WASHINGTON – The U.S. Department of Housing and Urban Development today unveiled the HUD Resource Locator – an innovative mobile app and website to further expand and enhance traditional HUD customer service. The resource locator will offer real-time HUD housing information at the fingertips of people looking to quickly connect with building managers, public […]
CFPB Releases “Owning a Home” Toolkit to Help Consumers Shopping for a Mortgage WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) released a report finding that almost half of consumers do not shop around for a mortgage when purchasing a home. The report also found that informed consumers are more likely to shop, […]
CFPB Warns Borrowers About Companies Charging High Fees for Free Federal Loan Repayment Benefits WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action to put an end to two student “debt relief” scams that illegally tricked borrowers into paying upfront fees for federal loan benefits. The CFPB, in a joint filing with […]