The numbers suggest that after seven quarters of complaints being received by the CFPB, mortgage lenders are getting a better handle on complaint resolution.

Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.

MBA president Dave Stevens is concerned that events could soon overtake policy makers and force an “imperfect solution” to Fannie Mae and Freddie Mac.

Citigroup is becoming more aggressive in residential lending, especially in the jumbo space.

The CFPB issued a final rule last week that finalizes the April clarifications made to its ability-to-repay and mortgage servicing rules. Among other things, the final rule clarifies and amends how several factors can be used to calculate a consumer’s debt-to-income ratio. Such factors include a consumer’s employment record and income, business credit reports and other documents relating to self-employed consumers, Social Security income, and non-employment related income such as from a trust or rental property. The final...

Debt collection practices are now fully and firmly on the CFPB’s radar. Last week, the bureau warned all companies under its jurisdiction that they will be held accountable for unlawful conduct in collecting a consumer’s debts. In the first of two bulletins, the CFPB makes clear that any entity subject to the Consumer Financial Protection Act of 2010, whether a third-party collector or a creditor collecting its own debts, can be held accountable for any unfair, deceptive or abusive practices in collecting a consumer’s debts...

Wells Fargo and JPM posted strong mortgage results for the second quarter. But what lies ahead for the industry?

The Securities Industry and Financial Market Association cautioned drafters of a proposed model law on mortgage foreclosures against adopting a provision that would eliminate or repeal the holder-in-due-course rule in the case of home loan foreclosures. Commenting on the Uniform Law Commission’s discussion draft on the “Residential Real Estate Mortgage Foreclosure Process and Protections,” SIFMA urged the commission not to repeal or limit the holder rule. The trade group warned that the rescission of the rule in the context of home loan foreclosures could convert a secured loan into an unsecured loan. “This is...

Hedge funds continue to salivate over mortgage servicing rights. Meanwhile, the Hensarling GSE bill goes down like a Led Zeppelin.

Some 231 non-agency mortgage-backed securities serviced by Nationstar Mortgage took nearly $1.0 billion in losses recently due to accounting for principal forbearance that occurred in previous years. Nationstar acquired the mortgages from Aurora Bank and said the revisions were made to remove inconsistencies in the reporting of previously forborne amounts. The revised losses follow a similar action by Ocwen Financial. Fitch Ratings said the servicers don’t anticipate similar significant ... [Includes two briefs]