WASHINGTON Michigan-based Flagstar Bank will be required to pay $37.5 million in restitution and fines over regulatory allegations it blocked struggling homeowners from receiving foreclosure relief, the Consumer Financial Protection Bureau said Monday.
Hefty penalty seems 'puzzling' since the Seattle and Des Moines FHLB merger seems on track to be the first voluntary merger in the 82-year history of the Federal Home Loan Bank System.
Learn how one bank replaced its paper-based loan origination system with D+Hs Web-based MortgagebotLOS, and is keeping pace with compliance and customer needs.
Recovery rates for liquidated commercial mortgage-backed security loans rose during the first half of this year after reaching historic lows the two previous quarters, according to Fitch Ratings.
Home prices continued their steady climb upward in July, according to data released Monday from Black Knight.
Fannie Mae and Freddie Mac, which attracted investors such as hedge-fund manager Bill Ackman even as the mortgage giants hand over their profits to taxpayers, are tumbling again.
From Our Blogs
»Financial Institutions Will Pay If They Fail to Supervise Third Parties
»Being the Boss
»Culture Clash: The Overlooked Threat to Mortgage M&A
»CDFI Fund Flies Under the Radar, But Makes Big Impact
»The Scientific Approach to Mitigating Operational Risk
»How Auctioning Troubled Mortgages Can Boost the Housing Recovery
»How Much Capital Does a GSE Need? None
»Liberating Data from Mortgage Docs
»How Lenders Can Use CFPB Complaint Data to Improve Performance
»More Whistleblower Cases against Lenders Ahead?
- NTC Hits Industry Milestone for Electronic Recordation
- IDS Launches Mortgage Compliance Resource Center for Doc Prep Clients
- NTC Snags Third Inc. 5000 Award, Places Number 2,097 on List of Fastest-Growing Companies
- Equifax Further Streamlines Lenders' Mortgage and Home Equity Origination Pipelines
- Property Reports Made EasyNationwide Title Clearing, Inc. Revamps Website, Online Ordering Available