The California Housing Finance Agency has announced the introduction of a 40-year fixed-rate mortgage product aimed at helping first-time homebuyers afford a home.The fixed rate on the new product will be 5.75% initially, about one percentage point below the average market rate for 40-year mortgages, CalHFA said. The agency also offers a 30-year fixed-rate mortgage and a 35-year interest-only PLUS mortgage that carry below-market rates. CalHFA can be found online at http://www.calhfa.ca.gov.
-
Fannie Mae's latest economic forecast no longer expects mortgage rates to go below 6% next year, and that is affecting its views on loan origination volume.
50m ago -
Amid steady customer growth, USAA's banking arm failed to make the investments necessary to satisfy either its regulators or some decades-long customers. Changes in the executive suite haven't fixed the problems.
5h ago -
The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
7h ago -
Critical defects increased for the second consecutive three-month period, with appraisal-related errors nearly doubling, Aces Quality Management said.
November 20 -
The Federal Reserve governor said the Supreme Court ruling could bring needed transparency and efficiency to regulatory policymaking.
November 20 -
In a congressional hearing, top officials from the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said no new rules will be adopted or proposed this year.
November 20