Skip to main content

Credit Plus launches new company

National Mortgage Professional
May 26, 2008

Federal financial regulators issue final illustrations of consumer information for hybrid ARMsMortgagePress.comARMs, Statement on Sub-prime Mortgage Lending, FDIC The federal financial regulatory agencies today issued final illustrations for helping consumers understand certain hybrid adjustable rate mortgage (ARM) products. The agencies' Statement on Subprime Mortgage Lending (Subprime Statement), which became effective July 10, 2007, recommended that institutions provide clear, balanced, and timely information to consumers about the relative benefits and risks of hybrid ARM products. The illustrations are intended to assist institutions in providing this information. The illustrations consist of: (1) An explanation of some key features of products covered by the Subprime Statement; and (2) Three charts with examples of the potential payment shock accompanying these types of loans. Institutions are not required to use the illustrations. They may use them, provide information based on them, or provide consumers with information described in the guidance in an alternate format. The agencies will be posting the illustrations on their web sites for downloading and printing. In particular, versions of the illustrations will be posted in English and in Spanish together with a template of the illustrations that institutions can modify to reflect the latest market conditions. The final document, Illustrations of Consumer Information for Hybrid Adjustable Rate Mortgage Products, may be accessed by clicking here.
May 26, 2008
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023
Women Continue To Defy Homebuying Challenges, Representing 22% Of The Market, Survey Finds

Young, educated, diverse, and increasingly savvy, women homebuyers navigate homeownership hurdles with determination.

Nov 15, 2023 Stays Bullish On Industry Disruption Amid Q3 Losses

Despite a $340 million Q3 loss,'s leadership emphasizes cost reductions, automation, and investment in technology.

Nov 15, 2023
Fannie Mae Extends Rent Payment Pilot

Positive Rent Payment program offers financial stability and opportunities.

Nov 14, 2023