Debt collection, mortgages and credit reporting are the top three most-complained-about products and services in 2015, according to the Consumer Financial Protection Bureau’s fourth annual report on servicemembers’ and veterans’ complaints. Such complaints comprised a significant share of complaints from members of the military and their families logged by the CFPB last year. In 2015, the CFPB received 13 percent more military complaints compared to 2014, noted Barbara Mishkin, consumer finance attorney at Ballard Spahr. Of the 19,200 complaints received from members of the military last year, 46 percent (8,900) involved debt collection. The report indicates that military consumers submitted debt-collection complaints at almost twice the rate of the general consumer population, said Mishkin. Of the 8,900 debt-collection complaints, 44 percent involved attempts to collect a debt that the ...

FHA Total Delinquencies, Serious Delinquencies Show Remarkable Improvement Since Peak. The FHA total delinquency rate in 2015 was 13 percent, down 37 percent from 2012 when the rate peaked at 16.7 percent, according to the latest data from FHA Neighborhood Watch. Serious delinquencies (loans that are 90 days or more past due) have improved 19 percent in 2015, with rates down to 6.74 percent from 9.92 percent in 2012. As of February 2016, the total delinquency rate and serious delinquency rate improved further to 11.1 percent and 5.5 percent, respectively. VA Issues POC Guidance, Seeks Comments on Proposed Data Collections. The Department of Veterans Affairs has issued new guidance revising the point-of-contact for inquiries regarding paid-in-full notifications of loans guaranteed for repurchase under VA’s Regulation 4600 Loans. The ...

Dallas, who has been a mortgage banker since the 1980s, added that earlier in the year Skyline “battened down the hatches…”

At yearend, RoundPoint had $14.9 billion in subservicing contracts. It now has almost $22 billion.

Although interest rates have been trending downward for much of the year, it hasn’t stopped mortgage firms from selling one of their most prized assets: mortgage servicing rights. According to a new tally from Inside Mortgage Finance, almost $27 billion in MSR auctions have been announced since March 1, with some bulk deals sized as high as $6.2 billion dollars. At least 16 offerings have been announced...

One servicing broker had this to say about the all the new offerings: “There’s a lot of deals out there now – and they seem to be getting done.”

Total gripes to the bureau slid 5.0 percent in the first quarter and were off 3.0 percent on an annual basis...

FHFA chief Mel Watt is expected to issue a final decree this month…

CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.

We also heard one report that earlier in the year a large production group from a competitor jumped ship and joined WJB in January.