Not every mortgage company can issue unsecured notes at a decent price, but a handful of larger shops can, especially if they own a ton of servicing rights.
Even though Bank of America and the borrowers were successful in reaching a reinstatement, a report filed by the foreclosure mediator put the bank on the hook for acting in bad faith.
Currently, banks charge an average of $35 for overdraft loans, raking in billions of dollars per year. The CFPB proposed a safe harbor for overdraft loans that would be as low as $3.
The settlement addresses charges that the Memphis, TN-based bank engaged in mortgage lending discrimination in majority-Black and Hispanic neighborhoods.
The Supreme Court appears poised to overturn the legal theory of “Chevron deference.” If it does, what the court chooses to replace the standard with will have an impact on the CFPB going forward.
U.S. Mortgage Insurers warned federal banking regulators against unintended consequences to the housing market if they finalize changes to capital requirements for large banks without fixes.
Below contract appraisals in majority Black census tracts are much less likely to receive time adjustments than those in majority white tracts, according to new research from FHFA.
Fannie Mae’s announcement of an update to its HomeReady program drew applause from the crowd at the MBA’s independent mortgage bankers conference this week.
Freddie and lender trade groups circled the wagons in opposition to many of the mortgage-related provisions in a proposed rule to change capital requirements for large banks.
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