A few years back, one investor in nonperforming loans told us that when he couldn’t find a delinquent borrower he turned to the Internet, namely Facebook...

Complaints about residential mortgages were among the first type of gripes to be accepted and tracked by the CFPB’s consumer complaint database.

JPMorgan Chase earned $584 million from its mortgage banking division in the second quarter, more than double the profit of the first quarter.

After being unable to reach the borrower for several months, Green Tree called the borrower’s neighbors multiple times, asking them to have the borrower call the servicer.

With the second quarter having just ended, several large flow and bulk MSR transactions are in the works...

The “major” counties where it’s cheaper to rent are all in Southern California...

Overall consumer complaints filed with the CFPB remained generally flat in the second quarter and year-over-year as of the six-month mark. But gripes about consumer loan related issues leapt 64.6 percent YOY, despite a 9.8 percent drop in the second quarter, according to the latest analysis by Inside the CFPB. The money transfer sector also showed a poor performance over both time periods tracked by Inside the CFPB, as consumer grumbling rose 18.7 percent YOY and 23.6 percent MOM. Complaints about credit cards also were up, but not as much: 12.9 percent as of the six-month period vis-à-vis last year, and a slight 2.3 percent during the second quarter of 2015. But the residential mortgage sector again did quite well ...

FDIC Issues Updated Exam Procedures for TRID. The FDIC recently published revised interagency examination procedures for the new Truth in Lending Act /Real Estate Settlement Procedures Act integrated disclosures rule (TRID) in an effort to help its supervisory charges better cope with the new regulatory regime. The new guidance also addresses some issues related to the bureau’s mortgage servicing rules, providing an alternative definition of the term “small servicer” for certain nonprofit entities.It also deals with aspects of the ability-to-repay rule with its qualified mortgage standard. “The examination procedures should be helpful to financial institutions seeking to better understand the areas on which the FDIC will focus as part of the examination process,” the agency said in a recent ...

The CFPB recently issued some guiding principles for protecting consumers as the private sector develops new faster payment systems that are aimed at reducing “pocket-to-pocket” payment times between consumers, businesses or other entities. The bureau said it wants to ensure any new payment systems are “secure, transparent, accessible, and affordable to consumers. The systems should also have robust protections when it comes to fraud and error resolution,” the agency said. While American consumers benefit from and make use of these payment systems, there remain opportunities to improve efficiency, reduce transaction costs for consumers, and lessen credit and fraud risks, according to the agency. “There is also greater opportunity for consumers to have real-time information about their account balances so they ...

Sen. David Vitter, R-LA, chairman of the Senate Committee on Small Business and Entrepreneurship, has called into question “the adequacy and thoroughness of the CFPB’s analysis of small entity impacts” as a part of its payday lending rulemaking process and requested the Government Accountability Office to investigate the issue and release its findings. Among the issues the senator raised was whether the selection of small entity representatives is conducted in a way that guarantees adequate input from a reasonable distribution and representation of small entities that would likely be affected by the bureau’s proposed regulation currently under consideration. Vitter also wanted to know if the materials that are distributed to SERs are adequate for them to provide constructive input for ...