Among the allegations: Low VA Rates advertised loan terms that it wasn’t actually prepared to offer. The agency said the nonbank has mailed millions of mortgage advertisements to consumers since January 2016.
After pulling back from correspondent lending during 2Q20 amid market volatility, New Residential sharply increased its loan purchases in the third quarter...
Pretium Partners and a unit of Ares Management will acquire Front Yard Residential in a deal valued at $2.4 billion. The move follows recent complaints from shareholders regarding mismanagement.
Industry trade groups are joining hands with nonprofits to develop an outreach campaign to address distressed borrowers who have avoided making contact with their servicers.
Issuers of prime non-agency MBS are completing deals with mortgages originated after the market volatility of March while expanded-credit MBS continue to be stocked with older loans.
Booming refi business is generating strong profits for nonbank lender/servicers, easing concerns about liquidity. Still, some nonbank servicers are calling on the Federal Home Loan Banks for financing lines.