Equifax, while agreeing to the settlement, denied the charges in a recent filing with the Securities and Exchange Commission: “The company’s participation in the consumer settlement does not constitute an admission by the company of any fault or liability, and the company does not admit fault or liability," the vendors said.
This is the third deal from WAMCO this year, following a $945.5 million transaction in May and a $285.6 million bond in February. The company brought out only one deal last year.
The figures are not adjusted for seasonal factors, and FHA/VA default rates often trend lower in the first quarter. FHA home equity conversion mortgages are not included in the data.
Back in early June, the share price of Fannie/Freddie common was rallying, reaching $3.16 (for the former) and $3.07 for the latter. If you had bought in at those prices, today you’d be looking at losses of 23.1% and 24.7%, respectively.
Like many other governmental housing agencies, CBC provides downpayment assistance through the Chenoa Fund to first-time homebuyers seeking to purchase a home with FHA financing.
Banks and other lenders typically hire third-party collectors to recoup debt or sell the accounts to debt buyers. There are approximately 9,330 debt collectors/buyers in the U.S., said the bureau.
“The proposal we are considering would remove one potential obstacle IDIs [independent depository institutions] face in providing mortgage credit to homeowners,” said FDIC Chairman Jelena McWilliams.
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