Interthinx acquires NIA Consulting

National Mortgage Professional

Nov 01, 2007

HOPE NOW announces new membersMortgagePress.comForeclosure prevention resources HOPE NOW has announced that the American Bankers Association, America's Community Bankers and EMC Mortgage have joined the newly formed alliance. In addition, Faith Schwartz, senior vice president of enterprise risk and public affairs for Option One Mortgage Corporation, has agreed to serve as HOPE NOW's project manager and coordinator. Washington, D.C.-based HOPE NOW is a cooperative effort between counselors, investors, lenders and other mortgage professionals to maximize outreach efforts to homeowners in distress. For more information, visit www.hopenow.com.

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Nov 01, 2007

Regulation and Compliance

CFPB Slaps Bank Of America With $12 Million Penalty For False Mortgage Data Reporting

For at least four years, hundreds of Bank of America loan officers failed to ask mortgage applicants certain demographic questions.

The Consumer Financial Protection Bureau (CFPB) issued a $12 million penalty against Bank of America for submitting inaccurate mortgage lending information to the federal government. The consent order issued Tuesday says that for a period of at least four years, Bank of Ame...

Regulation and Compliance

Rising Home Values Propel Higher Loan Limits

FHFA Announces 5.6% Increase in Conforming Loan Limits for 2024

The baseline conforming loan limit for one-unit properties under government-sponsored enterprise mortgages in 2024 will rise to $766,550, marking a 5.6% increase from the current limit. In high-cost areas, the GSE loan limit for one-unit properties will reach as high as $1.1...