New York’s state attorney general has sued three Internet lenders, saying their soaring interest rates are a violation of state lending laws.
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New York’s state attorney general has sued three Internet lenders, saying their soaring interest rates are a violation of state lending laws.
Read more: http://tinyurl.com/kjeo6qr
Renaud Laplanche, Lending Club CEO, discusses the growing trend among some consumers to bypass banks and borrow money directly from individuals, providing strong returns for some lenders.
Video: http://tinyurl.com/m6wxwyb
OTTAWA – Canada Mortgage and Housing Corp. is limiting guarantees it offers banks and other lenders on mortgage-backed securities.
CMHC has notified banks, credit unions and other mortgage lenders that they will each be restricted to a maximum of $350-million of new guarantees this month under its National Housing Act Mortgage-Backed Securities (NHA MBS) program.
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A mortgage broker says banks and other lenders have begun to flag postal codes in flood-prone areas of southern Alberta.
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Nervous banks are demanding fresh appraisals and inspections before providing new mortgages or renewing existing loans on potentially flood-affected properties.
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TORONTO – A new Bank of Montreal study suggests that roughly one in five potential first time homebuyers have postponed their purchase since Ottawa tightened Canada’s mortgage rules last year.
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Lenders stepped up action last month against homeowners who had fallen behind on their mortgage payments, taking possession of more homes and initiating the foreclosure countdown clock on many others.
Read more: http://www.cnbc.com/id/100812552
Maria Wells said she never intended to be a landlord. She sells real estate; she doesn’t invest in it. Now the Florida resident owns two properties. One was her son’s, but he had to move to take a new job.
Read more: http://www.cnbc.com/id/100764601
CALGARY — A survey by Scotiabank shows that 69 per cent of Alberta mortgage holders say it’s possible to pay off their mortgage faster without affecting their lifestyle.
Read more: http://tinyurl.com/c8aofkm
What was so unusual about Phillip Ratliff’s experience in getting approval for his first mortgage was that it wasn’t difficult at all — even though he could afford a down payment of only 5 percent.
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