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Thursday, June 5, 2008
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Banks to be asked to notify borrowers of bad credit score
Summary from United States, from articles in English
p Anew study finds that closing costs on home loans vary widely and that African Americans, Latinos and people in neighborhoods with fewer college graduates tend to pay more. (article 3) But there is one change that may help stem fraud in the mortgage industry, and it could reduce the number of unscrupulous or unlicensed brokers and loan officers who move from state to state preying on borrowers. (article 1) The Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators have launched the Nationwide Mortgage Licensing System, which is designed to help state licensing officials keep track of individuals and companies responsible for arranging mortgage loans. (article 1) The system streamlines the regulatory process by allowing state-licensed mortgage lenders, brokers and loan officers to use one form to apply for, amend, update or renew their licenses online. (article 1) BOSTON Massachusetts authorities sued H&R Block Inc. on Tuesday, alleging that its mortgage unit discriminated against black and Latino borrowers and escalated a foreclosure crisis in the state. (article 6) To help with this, two federal agencies have proposed risk-based pricing alert procedures that would cover all lending situations - home mortgages, credit cards, auto loans, among others. (article 5)

Other stories about loans, mortgage and Lenders:
  • First-time buyers with good credit still good risk - (6 articles)
  • Small businesses turn to alternative lenders (5 articles)
  • 2 big players drop 'declining' markets policy - (4 articles)

  • Event tracking:
  • Track this story's development in time

  • Story keywords
    loans, mortgage, Lenders, Credit, borrowers

    Source articles
    1. Brokers in the Fast-and-Loose Lane? Run Their Licenses. (Washington Post, 06/04/2008, 409 words)
    2. Some of those changes are specifically targeting m... (baltimoresun.com, 06/04/2008, 773 words)
    3. Closing costs all over the map, study finds (sfgate.com, 06/04/2008, 1092 words)
    4. Prosecute the Mortgage Sharks (Washington Post, 06/04/2008, 394 words)
    5. Banks to be asked to notify borrowers of bad credit score (sfgate.com, 06/04/2008, 774 words)
    6. Massachusetts sues H & R Block over its mortgage unit's lending practices (L.A. Times, 06/04/2008, 193 words)
    7. Minorities hit with higher fees, AG says (boston.com, 06/04/2008, 650 words)




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