It’ll take time to see effect of new mortgage rules
New regulations governing home loans take effect Jan. 10, but it's likely to take a few months to see how much they really alter a prospective borrower's ability to get...
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FHA lowering loan limits in Chicago area
The Federal Housing Administration is ending the year in much the same way it started, announcing steps to lessen consumers' use of FHA-backed mortgages. This month, the agency announced new,...
FHA lowering loan limits in Chicago area
The Federal Housing Administration is ending the year in much the same way it started, announcing steps to lessen consumers' use of FHA-backed mortgages. This month, the agency announced new,...
Drones already flying under the radar
The first one offered expansive views before crashing in spectacular fashion. The second one simply flew away, never to be found. Scott Gerami's third homemade drone was a winner, allowing...
Illinois dodges extra mortgage guarantee fees
The Federal Housing Finance Agency is increasing the guarantee fees that Fannie Mae and Freddie Mac charge for mortgages they acquire, but Illinois will not be assessed an extra fee...
Efforts continue to fight foreclosure rescue scams
Foreclosure activity is on the decline, but officials continue to struggle to stop desperate homeowners from being victimized by individuals who make false promises about mortgage loan modifications. The schemes,...
FHA-backed home loan limits to be cut next year
Lower single-family home loan limits will take effect next year for homebuyers in Chicago and in many other areas who take out a mortgage backed by the federal government.Beginning Jan....
Efforts continue to fight foreclosure rescue scams
Foreclosure activity is on the decline, but officials continue to struggle to stop desperate homeowners from being victimized by individuals who make false promises about mortgage loan modifications. The schemes,...
Mortgage servicers to face more scrutiny
Companies covered by the national mortgage foreclosure settlement continue to have trouble complying with a long list of rules they must follow to improve their interaction with delinquent borrowers.As a...
Critics seek more changes to revamped lending forms
New mortgage lending forms designed to make it easier to shop for a mortgage have been unveiled by the Consumer Financial Protection Bureau, but they won't take effect for another...