Raj Date helped write new rules for U.S. mortgage underwriting as deputy director of the Consumer Financial Protection Bureau. Now he’s building a company that will offer loans to borrowers blocked by the agency’s standards.
Derrick Bulaich locked in a home- loan rate of 4.6 percent last week, prompted by a surge in borrowing costs as investors speculated the Federal Reserve would pull back from bond buying. Bulaich, who said he wishes he’d acted sooner, still plans to complete the purchase today of the four-bedroom Sacramento home because values in the city remain 42 percent below their 2005 peak despite recent gains.
The foreclosure-abuse settlements announced yesterday by federal regulators may make it harder for state attorneys general and the Obama administration to force banks to reduce loan balances for more troubled U.S. homeowners.