Banks Holding Back Lowest Rate Mortgages To Keep Profits High, Experts SayMortgage rates are near all-time lows, and it might be hard to imagine them going even lower. And yet, some loan experts say, many banks aren’t giving borrowers the lowest rates they deserve.
Predatory, High-Interest Lending Booms In CaliforniaPredatory, high-APR lending in California is booming. A state report found that most loans issued by non-bank financial companies between $2,500 and $5,000 had annual percentage rates of 100 percent or higher.
'Too Smart To Rent?' SF Mortgage Lender's Ad Campaign Stokes Renter ResentmentA mortgage lender’s advertising campaign in San Francisco is striking a nerve with current renters.
Judge Approves $1.2 Billion Wells Fargo Settlement In Mortgage CaseA judge in New York has given final approval to a deal calling for Wells Fargo Bank to pay $1.2 billion to the government to settle claims against it for improper mortgage lending practices.
New Report Finds Racial Disparities, Possible Redlining In Oakland Mortgage LendingA new report by two Bay Area racial justice organizations found significant racial disparities in mortgage lending in Oakland, as well as other California cities.
Concord Real Estate Exec Pleads Guilty In $200M Mortgage Fraud Scheme During Housing CrisisAn executive of a Concord real estate company pleaded guilty to a $200 million mortgage fraud scheme that took place during the height of the housing crisis, according to an unsealed plea agreement.
VIDEO: UC Davis Alumnus Brings Parents To Tears After Paying Off Their MortgageA UC Davis alumnus is making waves on Reddit after posting a video in which he surprises his parents with one very thoughtful holiday gift.
California To Receive Hundreds Of Millions In Bank Of America SettlementCalifornia will recover $300 million in damages from Bank of America as part of a $16.65 billion settlement over the bank’s handling of mortgage-backed securities prior to 2009, officials said Friday.
Former FBI Employee, His Wife Plead Guilty To Bank Fraud Charges In San FranciscoA former FBI employee and his wife pleaded guilty Thursday in federal court in San Francisco to bank fraud in connection to mortgages they obtained for rental homes in Daly City and San Bruno, according to federal prosecutors.
Bay Area Leads National Housing Price Gains But Signs Of Slowdown LoomThe San Francisco Bay Area led the major United States markets with a 2.4 percent monthly home price increase, but the gains are decelerating nationally as fewer Americans can afford to buy.
Zillow: 55% Of Bay Area Homes Not Affordable, Prices Rising Beyond Historic HighsBay Area home prices are increasingly unaffordable, and a change in mortgage rates could dramatically worsen the crisis.
Wells Fargo Cuts 700 Jobs From Mortgage UnitWells Fargo & Co. is cutting 700 jobs from its home lending business as mortgage refinancing slows down.