Tag Archives: loans

BofA Reaches Record Settlement Over Bad Loans

Bank of America has reached a record $17 billion settlement stemming from its sale of mortgage-backed securities before the 2008 financial crisis. This marks the largest settlement...

Lenders Blame QM Rule for Fewer Home Loans

New mortgage rules enacted this year are prompting banks to issue fewer home loans, according to a Federal Reserve Board report released this week. The survey asked large U.S. banks...

Wells Fargo Lowers Credit Requirements for FHA Loans

Wells Fargo has announced that it will accept lower credit scores for loans backed by the Federal Housing Administration. “We have dropped our FICO minimum for FHA from 640 to...

JPMorgan to Pay $614M for Faulty FHA, VA Loans

The Department of Justice is accusing lending giant JPMorgan Chase of approving thousands of loans for the Federal Housing Administration and Veterans Affairs that should not have been...

Lower Down-Payment Requirements for Jumbo Loans

Private jumbo-mortgage originations are on pace to reach the highest level since 2007, as lenders are offering low down-payment requirements to lure more borrowers, The Wall Street...