Moody's Investors Service downgraded two servicer ratings for Ocwen Loan Servicing, reflecting additional scrutiny by regulators and concerns about the nonbank mortgage servicer's ability to ensure timely payments to bondholders.
Sen. Elizabeth Warren, D-Mass., is one of the leading lawmakers behind a push to force regulators to reveal more details about settlements with banks
The Justice Department's recent $16.6 billion deal with Bank of America over crisis-era mortgage fraud has raised fresh questions over a perceived lack of transparency in the settlement process.
Sen. Richard Shelby isn't new to Banking Committee leadership, but he would face a crucial ticking clock if he returns as chairman of the panel next year.
Ginnie Mae President Ted Tozer took issue with a government watchdog report that criticized both his agency and the government-sponsored enterprises for failing to catch the massive fraud at Taylor, Bean & Whitaker.
The Charlotte, N.C., bank has lost more than $60 billion on its acquisition of Countrywide, including the cost of last week's big settlement with the Justice Department. But its issues are hardly over. The pain will continue for years as it has hundreds of thousands of delinquent, unsellable mortgage loans to work through.
Allowing the Federal Home Loan Bank System to invest in mortgage-backed securities is just one of many ideas being pitched to policymakers to revive the private-label market.
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