The Basel III capital requirements are making it hard for banks to stay in the servicing business, said David Motley, president of Colonial Savings. Their exodus from the market indirectly hurts consumers, he argued. more »
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Spokane has an estimated 500 abandoned homes in some stage of foreclosure, which city officials call zombie properties.
A Canyon Lake man has been sentenced to jail for his part in a fraudulent real estate foreclosure rescue business, the Ventura County District Attorney's Office said.
The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.
State mortgage regulatory examinations are focusing on systemic issues and using their broad authority under the Dodd-Frank Act to enforce the Consumer Financial Protection Bureau's servicing rules.
Mortgage industry hiring and new job appointments for the week ending Feb. 17.
When Pam Harrington bought the beachside house in Port Orange, Fla., in December 2004, she figured she got it for a steal at $230,000.
Fannie Mae reported higher net income in the fourth quarter over the previous year.
The developers of new loan-modification programs need to streamline application processes and stop making borrowers chase down useless documents.
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