U.S. Bank announced a new Special Purpose Credit Program (SPCP) geared toward increasing homeownership in communities of color. The Access Home Loan provides up to $12,500 in down payment assistance to qualified borrowers, as well as up to $5,000 in additional lender credit for closing costs. Buyers can opt to use the lender credit to…
By KIMBERLEY HAAS Officials at the Consumer Financial Protection Bureau are cracking down on a mortgage company that allegedly discriminated against minority families and a bank that is accused of pressuring employees into unlawfully accessing the credit reports of customers. With the aid of the U.S. Department of Justice, CFPB officials took action to end…
James “Jace” Stirling has been named the Southeast’s regional sales manager for Embrace Home Loans, the company announced in a press release. “I’m excited to join such an incredible organization,” Stirling said. “I was drawn to Embrace’s fantastic culture, leadership, and the long-term stability of a nearly 40-year-old company. I was also attracted by Embrace’s…
Seriously delinquent mortgages dropped by more than half year-over-year (YOY) at seven national banks, according to a report from the Office of the Comptroller of the Currency. Though the findings are optimistic, the banks in the study– Bank of America, Citibank, HSBC, JPMorgan Chase, PNC, U.S. Bank, and Wells Fargo– were handling almost 1,900 fewer…
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