Investor expectations for preparing real estate owned properties for conveyance vary wildly and demand a tailored approach from servicers.
"[R]ather than actually provide guidance on how to structure a compliant MSA, the CFPB simply summarized concerns it has with MSAs, and indicated that it has 'grave concerns' about the use of MSAs. That is not exactly an invitation to jump into an MSA," said Richard Andreano, a partner at Ballard Spahr.
The Consumer Financial Protection Bureau warned lenders Thursday to avoid marketing services agreements where payment for advertising is really just disguising kickbacks.
Partner Insights
NewCastle Home Loans Owner Ryan Kelley has branded himself as "The Home Loan Expert" and is willing to sit in a bathtub full of credit cards to prove it.
2015 Top Producers
ON's annual rankings show how loan officers made the most out of a tough year for originators.
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