Articles from March 2016



Plan to End Homelessness Receives National Planning Award

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the American Planning Association (APA) announced today that the Homeless Solutions Community 10-Year Plan for the City of Dayton and Montgomery County, Ohio, is the 2016 recipient of the HUD Secretary’s Opportunity and Empowerment Award…. HUD Press Releases

CFPB Halts Student Loan Debt Relief Scam

Student Aid Institute Illegally Tricked Borrowers Into Paying Fees for Federal Loan Benefits WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today took action to halt a student loan debt relief scam that illegally tricked borrowers into paying fees for federal loan benefits and misrepresented to consumers that it was affiliated with the Department […]

Mortgage Rates Drop After Yellen Speech

Mortgage rates moved decisively lower today, following a speech from Fed Chair Janet Yellen. While she accomplished it in several ways, Yellen’s overarching message was that the Fed is in no hurry to raise rates. Keep in mind, the Fed Funds Rate is not the same as mortgage rates. In fact, the two can move […]

CFPB Takes Action to Shut Down Illegal Student Debt Relief Scheme

Student Loan Processing.US and Owner Charged Student Loan Borrowers Millions in Illegal Fees WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) requested that a federal district court enter a final judgment and order that would shut down a student debt relief scheme that charged borrowers millions of dollars in illegal upfront fees for […]

Written Testimony of CFPB Director Richard Cordray Before the House Committee on Financial Services

Chairman Hensarling, Ranking Member Waters, and Members of the Committee, thank you for the opportunity to testify today about the Consumer Financial Protection Bureau’s Semi-Annual Report to Congress. I appreciate our continued dialogue as we work together to strengthen our financial system and ensure that it serves consumers, responsible businesses, and the long-term foundations of […]

Mortgage Rates Recover Some Recent Losses

Mortgage rates moved slightly lower today, recovering some of their losses from the first two days of the week. The average lender continues to quote conventional 30yr rates in a range of 3.75% to 3.875%, but today’s gains bring a few of the more aggressive lenders back to 3.625% on top tier scenarios. Day over […]

CFPB Rule Broadens Qualified Mortgage Coverage of Lenders Operating in Rural and Underserved Areas

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued an interim final rule that broadens the availability of certain special provisions for small creditors that operate in rural or underserved areas. The new rule, which takes effect March 31, 2016, implements Congress’s recent legislation, the Helping Expand Lending Practices in Rural Communities (HELP) […]

Mortgage Rates Back Near Recent Highs

Mortgage rates reversed course today, heading back toward the higher levels seen earlier in the week. It’s no mystery that rates have been paying attention to stocks and oil prices more than normal and thus not much of a surprise to see rates begin moving higher after stocks and oil did the same. The bond […]

Mortgage Rates Continue Higher

Mortgage rates moved higher again today, casting a bigger shadow on last week’s improvements. Rates haven’t yet returned to the higher levels seen at the beginning of last week, but they’re quickly closing the gap. Still, the notion of “higher rates” is relative when most lenders are still quoting the same contract rates today vs […]

Mortgage Rates Slightly Higher

Mortgage rates moved higher to begin the new week as stocks and oil prices moved up from Friday afternoon’s lows. Today’s increases cast a shadow on what had been shaping up to be a nice bounce last week. That ‘bounce’ refers to 4 out of 5 days where rates fell moderately after rising rather quickly […]