The loans in the new Redwood deal have the strong characteristics associated with jumbos, including an average credit score of 766 and a combined loan-to-value ratio of almost 71 percent.
Bank of America led all residential firms in cumulative mortgage complaints: 23,004 at the end of September. Wells Fargo was a distant second with 12,261.
When it comes to auditing mortgage lenders, does the CFPB know what its doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).
Housing Commissioner Carol Galante warned that with interest rates rising, the FHA may have reached a tipping point with its mortgage insurance premiums.
If the case settles, it would be the second time in two years that a case involving disparate impact claims under the Fair Housing Act has settled before the Supreme Court had an opportunity to hear arguments.