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August 29, 2014

New York Attorney General, CFPB Target More Mortgage Relief Firms

By Thomas Ressler

The New York AG has secured a temporary restraining order barring the loan mod companies from collecting advance fees. The state's top cop also froze their bank accounts.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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