Consumer complaints to the CFPB related to mortgages are down sharply from a year ago, with huge declines in every major category, according to a new Inside the CFPB analysis. Total gripes filed during the first quarter of 2018 were down 36.3 percent from a year ago, although the volume was up slightly – 2.5 percent – from the fourth quarter of 2017. Among specific kinds of mortgage complaints, criticisms about loan modifications dropped both annually and quarterly... [Includes one data chart]
After losing an appeal against the Federal Housing Finance Agency last year, Nomura Securities has asked the Supreme Court of the United States to hear its case and help overturn an $800 million penalty it owes the FHFA in a settlement. And the Structured Industry Finance Markets Association is helping in that effort. Nomura hopes the high court can determine whether the Housing and Economic Recovery Act’s extension of the statute of limitations applies to statutes of repose. The firm argues that too much time had passed for the FHFA to bring charges.
The performance and returns offered by credit card ABS differ significantly by the type of firm issuing the deal, according to a recent analysis by Moody’s Investors Service.
Mel Watt has roughly eight more months in office, but already industry lobbyists and GSE watchers are playing “guess who the next FHFA director might be.”
Wells Fargo, the nation’s largest mortgage lender, last week agreed to pay $1 billion to settle claims that it overcharged consumers on mortgage rate-lock commitments and force placed collateral-protection insurance on auto loan customers.
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