The latest CFPB supervisory highlights report found violations in the loss mitigation process and some foreclosure practices which officials determined are unfair or deceptive acts or practices. The report released earlier this month is the first one since Acting CFPB Director Mick Mulvaney took the reins of the agency. The most recent supervisory highlights report was the summer 2017 edition issued a year ago. Attorneys said the report indicates that the supervisory ...
With nonbanks dominating Ginnie Mae’s single-family MBS program, liquidity is an important factor in the issuance and servicing of Ginnie MBS and has been the agency’s focus in recent years.
JPMorgan is the parent company of the nation’s second largest residential lender, Chase. Trump last decade started a small mortgage brokerage operation in Long Island and then killed it...
For nonbank servicers, “the future looks good,” according to S&P Global Ratings. Industry analysts note that nonbank servicers have improved their servicing practices and they could be helped by rising interest rates. While servicing volume among nonbanks boomed in the years after the financial crisis, S&P said the firms hadn’t made adequate adjustments to how borrowers are treated. “Many nonbanks previously exhibited, in our view, a more ‘consumer finance’ mentality to servicing ...
Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…