Although 10 servicers have agreed to shell out $8.5 billion as part of the OCC/Federal Reserve foreclosure settlement, it won’t be known for up to a month exactly how much it will cost each bank.
The U.S. Court of Appeals for the District of Columbia has reinstated a lawsuit that could place a widowed spouse of a deceased reverse mortgage borrower at risk of foreclosure.
The Federal Trade Commission this week shut down a mortgage assistance scam operated out of the Dominican Republic while claiming to be headquartered in Chicago and affiliated with President Obama.
Promontory Financial this week laid off between 750 and 1,000 workers in the Denver area, many of them working on loan reviews tied to delinquent and foreclosed mortgages, industry sources told Inside Mortgage Finance.
Bexil American Mortgage, a company headed by industry veteran John Robbins, finally revealed the name of the mortgage banking firm it agreed to buy a few weeks back: Castle Mortgage of Vestavia Hills, AL.
The Consumer Financial Protection Bureau may reconsider certain regulatory exemptions to its servicing rules as they pertain to small servicers, agency counsel Mitchell Hochberg said during an Inside Mortgage Finance webinar late Tuesday afternoon.
Bexil American Mortgage has finally obtained its Ginnie Mae servicer approval and this week inked a deal to purchase a small nonbank lender whose identity it, so far, has not been revealed.
A new analysis by Public Citizen of a variety of data points on foreclosures paints a grim portrait of the havoc wrought upon homeowners by the Great Recession.
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