Good Morning! Today is Wednesday, July 12. Regulators fined Bank of America $150 million over junk fees. A storm dumped two months’ worth of rain on Vermont, resulting in hazardous flooding. Arizona had its 11th straight day of 110-degree temperatures. The Iowa Senate approved legislation that would ban abortions after six weeks.
The Mortgage Note Reports
Helping Homeowners: A new proposal is being offered by the Federal Housing Administration, so borrowers have a potentially more effective option to avoid foreclosure. Writer Nicole Murray has the story.
A Minor Rebound: Mortgage applications increased slightly thanks to a bump in FHA and VA loan activity, but with rates once again breaching 7%, the future looks tough.
Disability Assistance: As Americans with disabilities face one of the toughest housing markets yet, there are resources available to help them achieve homeownership.
TMN Presents: The Mortgage Meltdown Meter, a collection of articles from the market correction, updated daily. Click here to stay on top of the changing landscape.
In other mortgage and housing news…
The Worst Is Yet To Come: Recent reports that claim house prices are rebounding are missing the big picture, experts at Pantheon Macroeconomics say.
“Debt Reckoning”: With the end of student loan payment relief on the horizon, here’s a look at how payments might affect young homeowners.
Alleviating Stress: A majority of recent homebuyers experienced high levels of stress during their homebuying process, largely due to interest rates and unexpected costs.
Where To Rent: WalletHub compared markets based on 21 key measures of rental attractiveness and quality of life to find the best and worst places to rent.
Company News: Ally Financial devoted $1B to housing initiatives; First Home opened a new branch office in Maryland; PrimeLending launched a one-day mortgage product; Allison Batts was named VP of Executive Client Management at Cenlar.