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How to deal with “bad credit”—or no credit—when you want to buy a home

https://www.consumerfinance.gov/about-us/blog/bad-credit-or-no-credit-when-you-want-buy-home/

If you want to buy a home but you’re concerned about your credit score or credit history, we can help you understand your choices.

Struggling during the pandemic? COVID-19 financial relief and protections extended

https://www.consumerfinance.gov/about-us/blog/struggling-during-the-pandemic-covid-19-financial-relief-and-protections-extended/

Financial relief and protections for many student loan borrowers, renters, and homeowners has been extended. Here’s what you need to know.

CFPB Comment to Illinois Joint Committee on Administrative Rules on the State’s Proposed Community Reinvestment Act Rules

https://www.consumerfinance.gov/about-us/newsroom/cfpb-comment-to-illinois-joint-committee-on-administrative-rules-on-the-states-proposed-community-reinvestment-act-rules/

The CFPB’s Deputy Director submits this CFPB comment to the Illinois Joint Committee on the state’s proposed community reinvestment rules, specifically in support of provisions addressing appraisal bias.

Protecting homeowners from discriminatory home appraisals

https://www.consumerfinance.gov/about-us/blog/protecting-homeowners-from-discriminatory-home-appraisals/

This week, the CFPB filed a joint Statement of Interest with the Department of Justice to protect homebuyers and homeowners from discriminatory appraisals.

What to know if you are facing foreclosure after a natural disaster

https://www.consumerfinance.gov/about-us/blog/what-know-if-you-are-facing-foreclosure-after-natural-disaster/

If you are struggling to make your mortgage payment or can’t meet your reverse mortgage obligations, such as paying taxes and insurance, in the wake of a natural disaster, there are resources and potential options to avoid foreclosure.

Conventional loans

https://www.consumerfinance.gov/owning-a-home/conventional-loans/

Not all home loans are the same. Use our guide to understand how your loan choice affects your monthly payment, your overall costs, and the level of risk.

Data Spotlight: Trends in discount points amid rising interest rates

https://www.consumerfinance.gov/data-research/research-reports/data-spotlight-trends-in-discount-points-amid-rising-interest-rates/

Rising interest rates have created a challenging housing environment for borrowers. New research using HMDA quarterly data reveals more borrowers are relying on discount points.

How to work with your mortgage servicer

https://www.consumerfinance.gov/housing/housing-insecurity/help-for-homeowners/how-to-work-with-your-servicer/

Call your mortgage servicer as soon as you know you can’t make your monthly payment.

CFPB Finds Americans are Paying Upfront Fees Seeking to Lower Interest Rates on Mortgages

https://www.consumerfinance.gov/about-us/newsroom/cfpb-finds-americans-are-paying-upfront-fees-seeking-to-lower-interest-rates-on-mortgages/

The CFPB issued a new report today finding that more borrowers paid “discount points” upfront as overall interest rates rose.

Data spotlight: Trends in reverse mortgage direct mail advertising

https://www.consumerfinance.gov/data-research/research-reports/data-spotlight-trends-in-reverse-mortgage-direct-mail-advertising/full-report/

Reverse mortgage lenders send millions of advertisements to older adult homeowners via mail every year. The CFPB found that the number of such advertisements increased in 2021 and 2022 compared to the previous five years. These advertisements were largely sent to low-and middle-income households, and to southern and western states.

What is a subprime mortgage?

https://www.consumerfinance.gov/ask-cfpb/what-is-a-subprime-mortgage-en-110/

A subprime mortgage carries an interest rate higher than the rates of prime mortgages.

Exit your forbearance carefully

https://www.consumerfinance.gov/housing/housing-insecurity/help-for-homeowners/exit-your-forbearance-carefully/

Know what to do and monitor during your forbearance period during the coronavirus national emergency.

Mortgage answers

https://www.consumerfinance.gov/consumer-tools/mortgages/answers/key-terms/

Find answers to questions about getting a mortgage, paying your mortgage, or reverse mortgages.

What kind of down payment do I need? How does the amount of down payment I make affect the terms of my mortgage loan?

https://www.consumerfinance.gov/ask-cfpb/what-kind-of-down-payment-do-i-need-how-does-the-amount-of-down-payment-i-make-affect-the-terms-of-my-mortgage-loan-en-120/

There are many options for making down payments. The amount of your down payment will vary by the loan you choose and the lender’s requirements.

New data show improving yet sustained housing insecurity risks

https://www.consumerfinance.gov/about-us/blog/new-data-show-improving-yet-sustained-housing-insecurity-risks/

We continue to monitor the market to assess new and developing risks to consumers, and we share updated charts on mortgage forbearance, delinquency, and foreclosure that show an improving economic picture, yet sustained housing insecurity risk.

How to decide how much to spend on your down payment

https://www.consumerfinance.gov/about-us/blog/how-decide-how-much-spend-your-down-payment/

Your down payment will affect not just how much money you need to bring to closing, but also how much your mortgage will cost overall. Read on to find out...

Trustmark National Bank

https://www.consumerfinance.gov/enforcement/actions/trustmark-national-bank/

On October 22, 2021, the Bureau, together with the United States Department of Justice (DOJ), filed a complaint and proposed consent order in the federal district court for the Western District of Tennessee in settlement of claims against Trustmark National Bank (Trustmark), which is headquartered in Jackson, Mississippi.