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.
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.
HSBC Holdings Plc and Nomura Holdings Inc. lost a bid to block claims by a U.S. regulator the banks say were brought too late, clearing the way for a trial of HSBC over questionable mortgage practices.
A bulletin from the Consumer Financial Protection Bureau outlining new policies for mortgage servicing transfers has the industry on alert for another possible round of rulemaking coming down the pike.
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