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.
Congress has no need to enact additional legislation to impose tough loss-mitigation standards on servicers and owners of securitized residential mortgage loans for the benefit of consumers. The CFPBs mortgage servicing regulation thoroughly covers all related issues in this regard, according to a leading industry attorney. Larry Platt, a consumer finance lawyer at the global law firm K&L Gates, LLP, appeared late last month in a personal capacity before the Senate Banking, Housing and Urban Affairs Committee to discuss the Housing...