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Summary of Today’s Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust – August 28, 2014

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As per the recent report published by the major US mortgage company, Freddie Mac and Fannie Mac, the average 30 year mortgage loans remained at a 52 week low for the week ended August 22, 2014. The nationwide average for the 30 year mortgage home loans was 4.10%, remaining unchanged since last week. The average for shorter, 15 year mortgage ... Read More »

Current Mortgage Rates at Bank of America, Wells Fargo and SunTrust Remain Unchanged on August 27, 2014

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Last week, the number of applications for US mortgage loans increased as the demand for both new home purchase as well as refinancing loans experienced a hike. The Mortgage Bankers Association reported its seasonally adjusted index of home loan application activity, which includes both, home purchase as well as refinancing demand, increased 2.8% for the week ending August 22, 2014. ... Read More »

Today’s Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust on August 26, 2014

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As per the Quarterly Mortgage Bankers Performance Report released by the Mortgage Bankers Association this Monday, independent mortgage financiers as well as subsidiaries of chartered banks recorded a gain of $954 on every loan deal they managed to lock in the second quarter of 2014, up from a net loss of $194 per loan during the first quarter of 2014. ... Read More »

Current Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust on August 25, 2014

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Goldman Sachs has now agreed to pay a penalty of $3.15 billion for settling claims that misled the US mortgage giants Freddie Mac and Fannie Mac about risky mortgage securities it sold them before the collapse of realty market in 2007. The Federal Housing Finance Agency that oversees the operations of Fannie and Freddie made the official announcement for the ... Read More »

Goldman Sachs Nears $1.1 Billion FHFA Mortgage Settlement

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Goldman Sachs Group is close to a deal to pay a U.S. housing regulator close to $1.1 billion to settle claims it did not disclose risks on mortgage bonds it sold in the lead-up to the financial crisis, the Wall Street Journal reports according to sources close to the matter. A settlement with the Federal Housing Finance Agency (FHFA), which ... Read More »

CFPB Fines Subprime Auto Lender $2.75 Million

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The Consumer Financial Protection Bureau has fined Texas subprime auto lender First Investors Financial Services Group Inc. $2.75 million for knowingly giving inaccurate information to credit bureaus for at least three years. This potentially harmed the credit scores of tens of thousands of consumers. According to the CFPB, the company failed to fix known flaws in its computer system that ... Read More »

Existing Home Sales Up 2.4% in July to Highest Pace in 2014

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Housing recovery gained more traction in July with sales of previously owned homes increasing to the highest level in 10 months. According to the National Association of Realtors today, sales of existing homes rose 2.4% in July to a seasonally adjusted annual rate of 5.15 million. July sales remained down 4.3% from the previous year, when sales reached a peak ... Read More »

Mortgage Applications Rise on Increasing Refinancing

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Applications for home mortgages increased last week on improving demand for refinancing, according to the Mortgage Bankers Association today. The MBA said its seasonally adjusted index of mortgage application activity, which includes purchase and refinance demand, rose 1.4% in the week ending on August 15. The seasonally adjusted index of refinancing applications increased 2.7%, although the gauge of home purchase ... Read More »

Bank of America to Pay Record $17 Billion in Settlement with Justice Department

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Bank of America has reached a $17 billion settlement with the Department of Justice over allegations it packaged bad mortgages into securities and sold them to investors prior to the financial crisis, leading to billions in losses, the Wall Street Journal reports. The agreement, which may come as soon as Thursday, will be the largest settlement between the government and ... Read More »

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