Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.
Although RoundPoint isn’t taking any questions regarding a possible sale of the company, it recently published a statement regarding its co-issuance and subservicing businesses.
Although Ocwen is out of compliance with the NYSE, it continues to sell mortgage servicing rights. Late Monday it disclosed a $25 billion MSR sale to Nationstar.
Fitch said the downgrade was tied to Green Tree’s “aggressive portfolio growth,” noting that the nonbank grew its MSR portfolio by almost three-fold over the past two years.
It looks like some of the biggest mortgage lenders in the nation will be closing their loans themselves largely without closing agents, once the CFPB’s integrated disclosure rule kicks in Aug. 1, 2015, one top vendor representative revealed recently. And that might put the big banks at a competitive advantage vis-à-vis their nonbank rivals. “Because this is a paradigm shift, and because the liability is staying on the lender side – both in terms of the accuracy of the disclosure and in the timing – we’ve heard some of the bigger lenders are going to close the loans themselves instead of using settlement agents,” John Vong, CEO of ComplianceEase, told Inside the CFPB recently. “For some of the banks, they have already ...
Six of the top 10 firms that are the targets of consumer complaints about money transfers saw such submissions drop by double digits from the third quarter of 2014 to the fourth quarter, according to the latest analysis by Inside the CFPB.Overall gripes for all 1,700 companies tracked are down 16.1 percent during that period. However, consumer criticisms are up 52.5 percent when measuring the last nine months of 2014 against the last nine months of 2013. The CFPB started to collect complaints about money transfers in 2Q13.The worst performance in that period was Citibank, which saw complaints jump 133.3 percent.Overall concerns about fraud are head-and-shoulders above any [with one exclusive data chart] ...