Subservicing vendors ended the third quarter of 2018 with $2.33 trillion of contracts on their books, up 4.5 percent from June and 12.0 percent higher than a year ago, according to a new Inside Mortgage Finance ranking. [Includes one data chart.]
Even as the Senate is expected to confirm her as director of the Consumer Financial Protection Bureau either this week or early next week, Kathy Kraninger remains largely a mystery to many CFPB observers.
The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.
The U.S. Supreme Court’s refusal to hear a case relating to interest payments on mortgage escrow accounts and preemption of state laws has created uncertainty for lenders and servicers, according to lawyers for Bank of America, which sought a review of the case by the top court.
OCC examiners noted greater use of asset dissipation underwriting, a practice used to qualify borrowers using a “hypothetical income stream from their asset liquidation rather than debt-to-income ratios.”
When the measure was first introduced, one housing lobbyist quipped: “This is like someone laying on their death after drinking and sinning and finally realizing they need to get baptized. This is not being introduced for good political reasons.”
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