low mortgage rates attracting more short-term borrowers
with the 15-year rate in sub-3% territory, about 3 in 10 refinancers are opting for loans of less than 30 years. traditional 30-year fixed-rate loans are averaging 3.75%, a record low for the fifth straight week. as mortgage rates sink deeper into record territory, homeowners are refinancing into 15-year loans at a pace not seen in a decade, aiming to pay off their debt in time for retirement.
suntrust mortgage settles fed complaint for $21m
suntrust mortgage inc. has agreed to pay $21 million to settle a federal lawsuit alleging racial discrimination in its lending practices, documents filed thursday in u.s. district court show.
mortgage insurers face ratings downgrades
three australian mortgage insurers are facing possible downgrades by ratings agency moody’s investors services.
emc mortgage sued by securitization trust in new york
the trust financed the purchase of residential mortgages by issuing certificates that were to be repaid with interest from revenue generated from the loans, according to the court document.
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