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Author Archives: Christine Layton

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Christine Layton is an editor and freelance writer in Nevada with a passion for American finance. She covers mortgage and business news for US Finance Post.

CFPB: Flagstar Bank to Pay $37.5 Million for Mortgage Servicing Violations

CFPB: Flagstar Bank to Pay $37.5 Million for Mortgage Servicing Violations

On Monday, the Consumer Financial Protection Bureau announced it has ordered Michigan-based Flagstar Bank to pay $37.5 million over violations of mortgage servicing rules that went into effect at the beginning of the year. According to the CFPB, Flagstar harmed borrowers’ attempts to remain in their homes by failing to send notice when applications for foreclosure relief were not complete, ... Read More »

Home Prices Rising at Slowest Pace in 2 Years

Home Prices Rising at Slowest Pace in 2 Years

Annual price growth across the country has slowed more than expected in July, according to a new report released today. The home price index that covers the United States rose 5.6% in the 12 months ending in July, according to the S&P/Case-Shiller Home Price Index report. This is a 6.3% drop from June, and the smallest year-over-year price gains since ... Read More »

Mortgage Rates at Sun Trust, Bank of America and Wells Fargo

Today's Mortgage Rates at Sun Trust, Bank of America and Wells Fargo

  Mortgage rates remain largely unchanged on Tuesday at major lenders. Rates on some popular loan programs such as 15-year fixed loans have edged upward at Bank of America and other lenders though. Bank of America Mortgage Rates The best rate on a benchmark 30-year fixed mortgage at Bank of America is 4.125% with an APR of 4.330%. The rate ... Read More »

Pending Home Sales Drop 1% in August as Investors Back Out

Pending Home Sales Drop 1% in August as Investors Back Out

In August, the number of contracts signed to buy existing homes fell in yet another sign of uneven recovery in the housing market as investors exit the market due to rising interest rates and a declining number of distressed properties for sale. Sales of existing homes account for close to 90% of all home sales. The index of pending existing ... Read More »

Mortgage Rates: Bank of America, Sun Trust and Wells Fargo ( September 29, 2014)

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  Mortgage rates have remained largely unchanged for months, although last week was a fairly volatile week for mortgage rates on speculation that the Federal Reserve would take action in the mortgage market. Lenders have updated their mortgage quotes for Monday, September 29. Bank of America Mortgage Rates 30-year fixed rate mortgages are quoted at 4.125% for Monday with an APR of ... Read More »

Consumer Sentiment Hits 14-Month High in September

Consumer Sentiment Hits 14-Month High in September

Consumer confidence reached a 14-month high in September, led by improved optimism that the economy with strengthen and wages will increase. On Friday, the University of Michigan said its consumer sentiment index rose to 84.6, up from 82.5 in August. This is the highest level since July 2013, and the second-highest level in the past seven years. Before the recession, ... Read More »

Attorney General Eric Holder to Resign

Attorney General Eric Holder to Resign

Attorney General Eric Holder will announce his resignation today. He will remain in his position until a successor is named, and he reportedly informed President Obama of his intentions nearly three weeks ago. The news comes after close to six years as the head of a department marked by highs and lows. Under his leadship, the Justice Department saw great ... Read More »

New Home Sales Surge 18% to 6-Year High

Home Prices Rising at Slowest Pace in 2 Years

Sales of new homes surged in August to the highest level since 2008. If this level is sustained, it may lead to a rapid improvement in construction on stronger demand. New home sales jumped 18% from the previous month to a seasonally adjusted annual rate of 504,000, according to a new report from the Commerce Department. This is the largest ... Read More »

Existing Home Sales Drop 1.8% in August as Investors Pull Back

Existing Home Sales Drop 1.8% in August as Investors Pull Back

The housing market lost momentum in August as more investors pulled back. Sales of existing homes fell 1.8% in August to an annual rate of 5.05 million, according to the National Association of Realtors. This put an end to four months of gains and pushed sales down 5.% from the previous year. The decline is attributed to fewer investor purchases, ... Read More »

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