In percentage terms, the sharpest downturn was in home-equity ABS, although this sector represented just 1.6 percent of bank ABS investment and there has been no new production in years.
HomeUnion Lending is licensed to operate in Alabama, Florida, Indiana, Iowa, and Oklahoma, but plans on expanding its reach to 16 more states by the end of March 2016.
Hope Now said 75,969 foreclosure sales were completed in the third quarter of 2015, a 15.0 percent sequential decline and down 30.8 percent compared to 3Q14
State Mortgage Regulators Bring $10.2 Million Enforcement Action Against Prospect Mortgage. The Multi-State Mortgage Committee recently announced a $10.2 million settlement agreement and consent order between 50 state mortgage regulators and Prospect Mortgage over allegedly inappropriately assessed third-party settlement fees charged by an affiliate. According to the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, a multi-state examination performed by eight states revealed a pattern of charging improperly disclosed and unsupported fees paid to the company’s affiliate, C2C Appraisal Services. Under the terms of the agreement, Prospect is to pay restitution to every borrower in all participating states that was assessed a C2C Settlement Service Fee in the amount of $40 with interest of 10 ...
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