MBS issuance will continue at the GSEs and Ginnie Mae amid a partial shutdown of the federal government, but some changes will be temporarily in place.
The Supreme Court’s decision last year in Cantero v. Bank of America is trickling down to lawsuits in lower courts, including a decision in a case about interest on mortgage escrow accounts.
Rocket Mortgage claims it had no authority to correct the alleged discriminatory appraisal connected to a refinance application. The lender said it expects to be vindicated.
Fewer than 3,000 people have been convicted of federal mortgage fraud over the past 12 years and most didn’t serve the maximum sentence, according to an industry researcher.