Heightened regulatory oversight of servicing rights transfers means servicers must clamp down on processes while investors take stock of their own procedures.
The DOJ wants the banks it threatens with litigation to admit accountability, pay hefty penalties and takes steps to satisfy the public thirst for payback. But the financial system would be better served if the bulk of regulation was left to the banking agencies.
There are still enough indicators out there that suggest another round of foreclosures is near.
This shows that the Consumer Financial Protection Bureau will hold a company responsible for the actions of a third party, regardless of intent, if a consumer is negatively affected.
Devising a risk mitigation plan and the training and oversight necessary to implement it requires lenders and servicers to conduct a scientific investigation into the policies, procedures and controls they already have in place.
A program that moves distressed mortgages out of the foreclosure pipeline can save the FHA and GSEs money and give troubled borrowers a better shot at staying in their homes but only if it's properly implemented.
The Consumer Financial Protection Bureau's complaint database is an excellent source of information to help lenders make adjustments and refine their operations.
The 2014 Mortgage Technology Awards are 15 years in the making and continue a long tradition of honoring the best and brightest industry innovators.
The Federal Housing Administration raised mortgage insurance fees during the financial crisis in order to cover a wave of defaults. Now that the housing market has steadied, the agency should adjust its policies.
A plea for the Federal Housing Administration official to finish clarifying the rights of spouses unnamed on Home Equity Conversion Mortgages before she leaves office.
Common sense underwriting, a regulatory system that abides by contract law, and borrowers who consider homeownership a privilege, not an entitlement, make Canada perfect for private -label residential mortgage-backed securities.
Not every distressed borrower can, will or should get a modification. But in cases where they make sense, mod decisions should be swift and significant.
The time has come for residential private-label mortgage-backed securities in Canada, but the market will look nothing like the United States'.
For the average consumer, bundling purchases is a proven approach to improving value while reducing cost.
Bank of America has taken a significant reputational hit as a result of its 2008 acquisition of Countrywide Financial. Could it have mitigated some of the damage with a different branding strategy?