Stay Up to Date with the Latest Mortgage News

  • Hidden
  • Hidden
  • Hidden
  • Hidden

Mortgage Banking Round Up from OpenClose loan software

  • According to  Freddie Mac’s latest survey Mortgage rates grew slightly  from their recent record lows, with the average interest on a 30-year fixed-rate loan rising from 3.37% last week to 3.41%.
  • In Washington, the Federal Reserve said it will continue buying $40 billion in mortgage-backed securities each month until the labor market improves substantially as the central bank cited elevated unemployment rates.
     
  • In New York, federal prosecutors accused Bank of America of defrauding  government-backed mortgage agencies by churning out loans at a rapid pace without proper controls that it says was carried out by its Countrywide Financial unit.
Want fresh mortgage and market news streamed to your customers? Ask us about our mortgage websites amd loan software.