To make sure property markets aren’t creating excessive systemic risk, it’s important for regulators to look at the issue broadly, said FHFA’s Mark Calabria. That’s where an activities-based approach is critical.
A mortgage lender accused of predatory practices has agreed to pay more than $3.75 million in restitution. Separately, a broker settled consumer privacy violations and three individuals face penalties for copyright infringement.
Conventional nonbank lender/servicers have been closed out of the IPO market for several years now. But if you fall into the nonprime category, it’s a different picture. Velocity is about to test the stock market waters.
Rates were lower at yearend than Sept. 30, which means MSRs owners can relax and take profits on the asset. Next week, when the megabanks begin reporting 4Q results, we’ll know just how good the numbers are.