The institution also agreed to five-year compliance training for the Fair Housing Act. New Jersey’s OceanFirst Bank filed a proposed settlement agreeing to pay $15.1 million to settle…
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VA Calls on Mortgage Services to Extend Veteran Foreclosure Moratorium
Issues guidance to extend VA-guaranteed loans to December 31. The Department of Veterans Affairs (VA) issued a guidance to mortgage servicers advising them to extend the foreclosure moratorium…
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Secretary Yellen Optimistic Heading into World Bank Meetings
She says, “America’s economic strength will continue to underpin global growth.“ Secretary of the Treasury Janet Yellen began the International Monetary Fund and World Bank meetings with financial…
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Treasury Secretary Speaks at Annual Freedman’s Bank Forum
Attendees seek solutions to eliminate discrimination in banking, housing, and lending. The Department of the Treasury hosted the 2023 Freedman’s Bank Forum last week. The gathering included state…
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USDA Provides Additional Support to Farm Loan Borrowers
The new assistance program aims to bolster agricultural businesses and overcome financial challenges. The U.S. Department of Agriculture (USDA) recently announced plans to offer additional financial support to…
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USDA Seeks Public Comment Regarding Discrimination
Lending programs are the focus of desired feedback. The U.S. Department of Agriculture (USDA) opened up public comment last week, requesting input on how to best assist farmers…
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Mortgage Rates Hit 5.89 Percent
Some banks offer zero-down financing. As the Federal Reserve attempts to curb inflation by increasing interest rates, mortgage rates continue to rise. The home lending rate is now…
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FHA Lifts Some Temporary Transaction Underwritings
Rolls back measures put in place April 2020. On Monday, The Federal Housing Administration (FHA) announced that they would be removing temporary COVID-19 underwriting mitigants for multifamily transactions…
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Supreme Court Hears Unfair Lending Case
Court to clarify monetary restitution under the Federal Trade Commission Act. The Supreme Court heard oral arguments in the case of AMG Capital Management, LLC v. Federal Trade…
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