The most widely read story on the National Mortgage News website yesterday was the one about the CFPB warning 12 mortgage banking firms and investigating six others for misleading loan advertisements to consumers – particularly reverse mortgages. As for which 18 firms are under the gun, CFPB isn’t saying. On another subject, the agency (as many of our readers already know) is auditing bank and nonbank lenders left and right. Those audits, by the way, are private, which means the public never gets to see them. In other words, the documents are the equivalent of FDIC bank exams: they are under lock and key, never to be seen unless leaked.
NOV 20, 2012
- DocMagic: Delivering 99.999% Uptime Has Positive Impact on Lender Clients
- Nationwide Title Clearing (NTC) Comments on Newly Enacted Mortgage Rules, Expects Market-Driven Effect on Company Practices
- Interthinx: Jumbo Loans Present Much Higher Fraud Risk in Recent Quarter
- Rushmore Loan Management Services Announces Approval as a Freddie Mac Seller/Servicer Company Also Receives Positive Rating from S&P
- DocMagic and Veri-Tax Deploy Automated IRS Tax Transcript Retrieval Tool for Lenders