Hub News

Millennials Not Buying, Despite Rising Rents

Although home rent costs are expected to rise by more than three percent this year – marking a 14-percent overall increase since 2010 – and mortgage interest rates have remained low, many young Americans are still choosing to rent over

New Day Financial Fined $5.28 Million for Cheating on Licensing Procedures

New Day Financial LLC has agreed to pay a $5.28 million administrative penalty for allegedly helping their employees cheat on a series of critical professional licensing exams. The Multi-State Mortgage Committee of the Conference of State Bank Supervisors announced the

Mortgages Expected to Be a Bright Spot for U.S. Bank Results in Q1

Reuters is suggesting that – when the big banks begin reporting their earnings for the first quarter of the year next week – the mortgage sector is expected to be a particularly bright spot in the report. “The numbers are

Expert Recommends: Don’t Rush to Pay Off Mortgage Ahead of Retirement

While it’s true that Baby Boomers in their 50s and 60s are currently carrying much more mortgage debt than their parents did at their age, some experts says that’s OK. As Greg McBride, chief financial analyst at Bankrate.com, tells CNBC,

Cash Sales Continue to Decline for 25th Consecutive Month

For the 25th month in a row, all-cash home sale transactions have declined, falling to a 38.9 percent share of the market for January (the most recent month for which we have data). For reference, cash sales peaked in January

U.S. Consumer Debt at All-Time High

According to a new report by CNBC, consumer debt in the United States is currently at an all-time high. “The Federal Reserve says consumer credit climbed to a record high in February with a more than $15 billion gain that

Americans’ View on the Economy Reaches 8-Year High

According to the latest CNBC All-America Economic survey, a record 27 percent of those surveyed said they currently view the economy as good or excellent. That number is the highest level we’ve seen in eight years. In comparison, just last

Officials Agree: Credit Scoring System Needs Improvement

The National Association of Realtors hosted a meeting of real estate and mortgage industry experts recently and found that many in attendance were in favor of a complete overhaul of the current credit scoring system, arguing that it’s essential for

March Jobs Report Leaves Much to Be Desired

When the March jobs report was released on Friday, the news wasn’t very good. With economists expecting nonfarm payrolls to rise by 245,000, they got a huge shock when that number was announced at just 126,000 – the worst report

JPMorgan Chase on Track to Pay $4 Billion Settlement

JPMorgan Chase is on track to pay the $4 million it owes to homeowners as part of a settlement it reached in 2013, independent monitor Joseph Smith confirmed on Thursday. According to Smith, Chase has already shelled out $2.2 billion,

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