Few multistate lenders subject to reviews by state regulators submitted sufficient mortgage call report data last year, according to the Multistate Mortgage Committee. The regulators also cited lenders for origination issues and said they are working toward settlements with smaller servicers. The 2012 annual report released late last week by the MMC detailed two separate widespread data-related violations of state regulations, one involving limited scope electronic exams and the other involving a risk profiling program. The LSE exams were introduced...
Citadel Servicing has raised $200 million in capital to originate residential subprime mortgages. Does this mean subprime lending is "back"? Answer: yes and no.
The Federal Financial institutions Examination Council is taking a close look at social media and the risks it poses to financial institutions, including mortgage lenders.