Prospect Mortgage, a Sherman Oaks, California based lender has been cited by the Consumer Financial Protection Bureau (CFPB) for paying illegal kickbacks for mortgage business referrals . Two real estate brokers and a mortgage servicer were accused of taking those kickbacks. CFPB said Prospect is one of the largest independent retail mortgage lenders in the country with nearly 100 branches nationwide, offering a range of mortgages to consumers, including conventional, FHA, and VA loans. Also named in the several actions taken were two real estate brokers, RGC Services, Inc., (doing business as ReMax Gold Coast), based in Ventura, California, and Willamette Legacy, LLC, (doing business as Keller Williams Mid-Willamette), based in Corvallis, Oregon, and Planet Home Lending, LLC, a mortgage servicer

February 1, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.02%   6.11% 7.26% 15 Yr. Fixed 5.72% +0.02%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Feb 1, 2017 Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.02 0.00 15 Yr. Fixed 5.72% +0.02 0.00 30 Yr. FHA 6.00% +0.03 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.65% +0.02 0.00 30 Yr. VA 6.01% +0.02 0.00 Updates Daily - Last Update: 9/12 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.5 101.13 +0.02   97.47 101.61 UMBS 30YR 6.0 102.40 0.00   99.66 102.50 10 YR Treasury 4.066 +0.040   3.621 4.780 MBS Live Commentary: Differences Between Current and Previous FOMC Statements Wed, Feb 1, 2017 2:07PM  (Additions underlined, deletions struck through) Information received since the Federal Open Market Committee met in December  suggests indicates  that   the  labor market  conditions improved further even as has continued to strengthen and that  economic  growth slowed late last year. activity has continued to ... (read more) MBS Price Change UMBS 5.0 99.63 +0.06 UMBS 5.5 101.13 +0.02 UMBS 6.0 102.40 0.00 GNMA 5.0 100.00 -0.08 GNMA 5.5 101.13 -0.08 GNMA 6.0 102.01 -0.04 Pricing as of: 9/13 5:10AM EST US Treasury Yield Change 2 YR Treasury 3.553 +0.009 5 YR Treasury 3.630 +0.027 7 YR Treasury 3.816 +0.038 10 YR Treasury 4.066 +0.040 30 YR Treasury 4.681 +0.023 Pricing as of: 9/13 5:10AM EST Other News Illegal Kickback Charges Brought Against Prospect Mortgage Wed, Feb 1, 2017 10:30AM Prospect Mortgage, a Sherman Oaks, California based lender has been cited by the Consumer Financial Protection Bureau (CFPB) for paying illegal kickbacks for mortgage business referrals . Two real estate brokers and a mortgage servicer were accused of taking those kickbacks. CFPB said Prospect is one of the largest independent retail mortgage lenders in the ... (read more) Freddie Mac Housing Outlook: Uncertainties Abound Wed, Feb 1, 2017 10:38AM Freddie Mae's Outlook for January looks at the uncertainties facing the housing market heading into the second month of 2017. While acknowledging that the economy is now in its eighth year of expansion , that housing is coming off its best year in a decade, and the prospects remain good for future growth, the company's economists say any forecasts for the fu... (read more) Single Family Construction Spending Picked up in December Wed, Feb 1, 2017 1:15PM Publicly funded expenditures continued to drag on overall construction spending numbers in December, offsetting a small uptick in private spending. Data released by U.S. Census Bureau on Wednesday shows private residential outlays remaining positive, especially for multi-family construction and with single-family construction showing some end-of-year strengt... (read more) MBA's GSE Reform Idea: A Clone Army of Fannies and Freddies Wed, Feb 1, 2017 10:28AM Calling it the final piece of unfinished business from the financial crisis, the Mortgage Bankers Association (MBA) has published a paper with its recommendation for comprehensive reform of Fannie Mae and Freddie Mac (the GSEs). The Association says that over the years, various proposals introduced in the House and Senate, while producing useful discussion, ... (read more) CFPB Enforcement Action - Realtors Take Note About Referral Fees; GSE news; Jumbo Program Trends Wed, Feb 1, 2017 10:21AM Although I am now in Phoenix for several days, where house flipping is ramping up again, I was fortunate earlier this week to be able to attend the Texas Mortgage Banker's Secondary Market Conference in Austin. The mood was upbeat, and the attendees were genuinely interested in learning about helping consumers while making sure loans are done in compliant ma... (read more) Latest Video Fed rate hike coming in March? Fed leaves rates unchanged Rieder: Expecting 3-4 rate hikes in 2017 Around the Web Bloomberg Fed Nods to Improved Sentiment While Leaving Rates Unchanged Federal Reserve Federal Reserve issues FOMC statement CNBC Blackstone takes its single-family rental bet public as sector soars feedproxy.google.com NAR Finds Real and Imaginary Barriers Holding Back Prospective Homebuyers CNBC ISM manufacturing index hits 56 in January vs estimate of 55 CFPB CFPB Orders Prospect Mortgage to Pay $3.5 Million Fine for Illegal Kickback Scheme Bloomberg Yellen Urged to Halt Talks on Global Bank Rules for Trump Review CNBC Invitation Homes raises $1.54 billion in IPO: Source Reuters Dollar hit by crossfire as Trump talks currency wars CNBC Contrarian call: Why one trader is buying bonds Calculated Risk Blog Real Prices and Price-to-Rent Ratio in November freddiemac.mwnewsroom.com Freddie Mac Releases Outlook on Multifamily Demand, Oversupply Risks in 2017 Calculated Risk Blog HVS: Q4 2016 Homeownership and Vacancy Rates

© 2025  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.