The Consumer Financial Protection Bureau has a field hearing scheduled for January 17 in Atlanta, and industry sources fully anticipate that the bureau will release its final mortgage servicing rule the night before.
The Consumer Financial Protection Bureau issued its final rules on residential servicing practices early Thursday morning, cracking down on dual tracking, and telling the industry it cannot engage in a foreclosure sale until “all other alternatives” are considered.
Citigroup has joined the club of megabanks marking up the asset value of their mortgage servicing rights. Shares of Genworth spiked, and other mortgage news briefs.
Nationstar Mortgage and KB Home are taking their strategic partnership to another level, setting up a new mortgage company that will provide mortgage banking services to new KB homebuyers across the U.S., the two firms announced.
Trade groups that represent loan brokers are still analyzing the details of the Consumer Financial Protection Bureau’s 500-plus page loan originator compensation rule, but at first glance officials are lukewarm on what they see.
Residential servicers, in certain cases, will need to navigate substantial legal and regulatory crosscurrents when it comes to new and pending federal and state requirements, a representative for the nation’s largest loan processor told participants during a recent webinar sponsored by Inside Mortgage Finance.
A new analysis by Public Citizen of a variety of data points on foreclosures paints a grim portrait of the havoc wrought upon homeowners by the Great Recession.
Remember the 4.4 million delinquent mortgagors who were done wrong by the nation’s mega-servicers and lost their homes to foreclosure? Remember how the Comptroller of the Currency launched a program in 2011 to let these mortgagors appeal? Well, apparently...