“The opportunity for us is clear,” said Christopher Abate, president of Redwood. “Capital needs in this still emergent sector of housing finance continue to rise..."
In an unusual development for a top mortgage lender, BofA announced that it would no longer report any information about its mortgage banking operations.
The CFPB last week finalized a proposed amendment to its “Know Before You Owe” rule, fixing what is commonly known in the industry as the “black hole” issue. The final rule adopts a July 2017 proposal with only minor, technical changes. In broad terms, it gives lenders more flexibility in issuing revised closing disclosures that comply with the complex disclosure requirements mandated by Truth in Lending Act and Real Estate Settlement Procedures Act ...
Altisource Portfolio Solutions disclosed that the CFPB won’t take any enforcement action against the company regarding its relationship with Ocwen Financial Corp., which was sued by the bureau for mortgage misconduct last year. The vendor – started years ago by Ocwen and then spun off – revealed last week that it received a letter from the CFPB on April 3 that the bureau has completed the investigation of the service provider and is currently not recommending any enforcement ...
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