Former CFPB enforcement attorney Jennifer Lee said the Circuit Court was hostile towards the CFPB’s arguments on statute of limitations, separation of powers, constitutionality of the agency and more...
FHFA’s Revised NPL Sale Guidelines: This week, the Federal Housing Finance Agency enhanced its nonperforming loan sale guidelines with three key changes. NPL buyers must evaluate borrowers whose mark-to-market loan-to-value ratio is above 115 percent for modifications that include principal reduction and/or arrearage for forgiveness. NPL buyers cannot “walk away” from vacant properties.
Wells Fargo was the subject of more mortgage complaints than any other player in the sector. Then again, Wells is both the largest lender and servicer.
Wells Fargo was the top seller to the GSEs in the first quarter with $22.75 billion, followed by Quicken Loans ($11.33 billion) and JPMorgan Chase ($6.87 billion).