The congressman said the decision to sell thousands of loans at a time at sharp discounts to the highest bidder “continues to enrich Wall Street at the expense of neighborhoods and community-based organizations.”
Ginnie Mae executive Michael Drayne raised concerns about the growing reliance on subservicers and whether there’s enough capacity at these companies...
David Lykken, managing partner of Transformational Mortgage Solutions, said he welcomes PIMCO’s investment, believing that it’s a huge positive for the industry.
The CFPB alleged that expense accounts were really “point banks” and that payments in the form of bonuses and commissions were based on mortgage profitability...
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