Wells Fargo is close to reaching a $25.75 million settlement of a class-action lawsuit involving delinquent borrowers who were charged fees for property inspections. The settlement would resolve allegations of violations of the Racketeer Influenced and Corrupt Organizations Act, among other issues. The bank has denied the allegations while noting that it desires to settle the lawsuit to avoid “the burden, expense and uncertainty of continuing litigation.” The lawsuit, Young v. Wells Fargo ...

A significant shift occurred in bank loan modification practices in the third quarter of 2015, according to data from the Office of the Comptroller of the Currency. Major banks’ use of proprietary loan mods declined sharply compared with the previous quarter while the number of Home Affordable Modification Program mods was nearly level in that span. The OCC’s data cover eight banks with a combined $3.73 trillion servicing portfolio, 42 percent of all outstanding first-lien residential mortgages ...

An analysis of the first in a wave of loans that were modified after the financial crisis suggests that interest rate resets required by the Home Affordable Modification Program are not causing a spike in delinquencies. The predominant loan mod completed under HAMP reduced a borrower’s interest rate to as low as 2.00 percent for five years, then required a yearly 1.00 percentage point increase to the interest rate until reaching the primary mortgage rate in effect at the time of the mod ...

The CFPB will scrutinize a lender's TRID training and, potentially its handling of early technical problems, said one webinar panelist...

The profit margin outlook “has gradually trended down each quarter this year,” Fannie Mae said.

“My lenders are keenly aware of meeting their FHA responsibilities,” Corso said in an interview with Inside Mortgage Finance…

Meanwhile, Wells Fargo was the top-ranked ARM lender through three quarters in 2015 with $18.83 billion funded. PHH Mortgage was a somewhat close second...

Make no mistake about it, Ally – whose financing roots can be traced to General Motors – has no visions of grandeur in residential finance.

The only significant nonprime competition Angel Oak faces is Citadel Loan Servicing, Irvine, CA.

The average daily trading volume in agency MBS fell to $180.2 billion in November, hitting a new low for the year, according to the Securities Industry and Financial Markets Association. Such a low reading is indicative of a lack of liquidity in the market, but by now, investment bankers and policy makers are no longer wringing their hands about the number. The complacency, in part, is fueled...