All posts by Colin Robertson

Department of Justice Sues Quicken Loans for Faulty FHA Underwriting

Department of Justice Sues Quicken Loans for Faulty FHA Underwriting
April 24, 2015 No Comments »

The United States Department of Justice has filed a lawsuit against Quicken Loans for improperly originating and underwriting mortgages insured by the Federal Housing Administration (FHA). The DOJ filed the suit, United States v. Quicken Loans, Inc., under the False ... Read More »

Nearly 70% of Home Listings Are Stale, but Maybe Not for Long

Nearly 70% of Home Listings Are Stale, but Maybe Not for Long
April 23, 2015 No Comments »

Even though we’re deep into April, the typical spring home buying season doesn’t seem to be in full swing. It usually picks up in March, but has yet to really take off nationwide, though some cities like Baltimore, Minneapolis-St. Paul, ... Read More »

Mortgage Lenders In Europe Now Owe Their Borrowers Interest

Mortgage Lenders In Europe Now Owe Their Borrowers Interest
April 22, 2015 No Comments »

A very odd thing is happening over in Europe. Thanks to rock bottom interest rates, some homeowners are actually due interest from their mortgage lenders. Now this doesn’t apply to fixed mortgages because as the name suggests, they’re fixed and ... Read More »

Green Tree to Pay Borrowers $48 Million for Loan Servicing Abuses

Green Tree to Pay Borrowers $48 Million for Loan Servicing Abuses
April 21, 2015 No Comments »

If Green Tree serviced your mortgage from 2010 to 2014, you might be due some compensation for alleged wrongdoings. Today, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) ordered Green Tree Servicing to pay $48 million ... Read More »

Detroit Home Buyers Offered Zero Down Mortgages Up to 150% LTV

Detroit Home Buyers Offered Zero Down Mortgages Up to 150% LTV
April 16, 2015 No Comments »

While this might sound like another exotic mortgage gone wrong, it’s actually a new program geared toward making the city of Detroit better, not worse. And somewhat ironically, it is a ridiculously high LTV mortgage with few underwriting requirements that ... Read More »

Financing Isn’t the Number One Reason Home Purchase Contracts Are Terminated

Financing Isn’t the Number One Reason Home Purchase Contracts Are Terminated
April 14, 2015 No Comments »

When you think about why home purchase contracts fall apart, mortgage financing is probably the first issue that comes to mind. But there’s actually another reason why most real estate contracts fall through – the home inspection. The February 2015 ... Read More »

Fannie Mae Is Offering 3% Toward Closing Costs If You Educate Yourself

Fannie Mae Is Offering 3% Toward Closing Costs If You Educate Yourself
April 14, 2015 No Comments »

Today, Fannie Mae tweaked their HomePath program a bit more by offering three percent in closing cost assistance if eventual home buyers complete an online homeownership course. The credit can be used to pay for standard home buyer closing costs, ... Read More »

A Good Time to Sell a Home, But Buyers Aren’t Interested?

A Good Time to Sell a Home, But Buyers Aren’t Interested?
April 9, 2015 No Comments »

Here’s a bit of a quandary. While 2015 might be a good time to sell your home, fewer say they’re interested in buying, according to the latest monthly edition of the National Housing Survey from Fannie Mae. The government-sponsored enterprise ... Read More »

Lady Antebellum to Pay Fans’ Mortgages

Lady Antebellum to Pay Fans’ Mortgages
April 8, 2015 No Comments »

What do a popular country band and your mortgage have in common? Probably nothing, unless you’re one of seven lucky winners. A new contest has been launched by, you guessed it, Quicken Loans, and the pop country band Lady Antebellum. ... Read More »