| State reaches $105,000 settlement with mortgage company
The Kentucky Office of Financial Institutions has reached a $105,000 settlement with Nationstar Mortgage LLC. Nationstar, formerly known as Centex Home Equity Co. LLC, does not admit liability, according to a news release. The settlement arose from investigations of the company's offices in Louisville and in Lewisville, Texas, in 2006. OFI concluded that Nationstar has employed "numerous unregistered loan officers," the release said. The $105,000 settlement will go toward the Nationwide Mortgage Licensing System, a collaborative effort among state regulators to bring greater efficiency and accountability to the mortgage industry by creating a standardized system for licensing. As part of the agreement, OFI also has been directed to adjust loans where violations might have occurred in regard to the refinancing terms.
Bankrate: Inflation Fears Nudge Mortgage Rates Higher
NEW YORK, Dec. 20 /PRNewswire-FirstCall/ -- Fixed mortgage rates moved higher for the second consecutive week, with the average conforming 30-year fixed mortgage rate now at 6.21 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.35 discount and origination points. The average 15-year fixed rate mortgage popular for refinancing inched higher to 5.9 percent, and the average jumbo 30-year fixed rate to 7.26 percent. Adjustable mortgage rates were mixed, with the average one-year ARM remaining at 6.17 percent, and the average 5/1 ARM dropping to 6.21 percent. Mortgage rates moved higher after two reports showed inflation could be an issue. In particular, both the Producer Price Index and Consumer Price Index showed larger than expected increases, even after excluding volatile energy costs.
The United States at the crossroads
Nevertheless, there is a palpable feeling in the labor-led people's movement that the moral arc of the universe is once again beginning to bend towards justice.
Indeed, hope that precious sentiment that shakes us from our lethargy and allows us to seize the day is alive. A sense of possibility fills the air. The tempo of political life is picking up.
The oppositional movements are showing more bounce to their step.
Suddenly a people's agenda is not simply an exercise in wishful thinking, but something that can be fought for and won.
In short, the election outcome last year was a people's victory. And because it was, people's struggles, which are at the core of the political process no matter how favorable the balance of forces in Congress, continue on more favorable ground.
|
