Prospect Mortgage entered a $3.1 million settlement with California regulators for overcharging mortgage borrowers per diem interest over a seven-year period.
Thousands of lenders post oceans of data each year to meet Home Mortgage Disclosure Act obligations. There may be more reporting requirements coming. Will the value of the new transparency outweigh the added compliance burden to lenders?
A jury found a particular loan officer was exempt from minimum wage/overtime requirements because her work involved "outside sales," but the case's decision fails to broadly apply to all LOs.
CFPB Servicing Standards
Fidelity's Plans for LPS
MT Awards Photos
The mortgage tech vendor is trying to maintain profits by signing and upgrading customers. The headwinds it faces reflect broader industrywide challenges: lower origination volume and new compliance requirements.
A Tampa homeowner is suing Bank of America and U.S. Bancorp, claiming that the banks delayed processing his mortgage payments in order to earn extra interest for themselves.
New York State approved an agreement between bond insurer MBIA and Nomura Holdings that ended claims related to mortgage-backed securities.
Ocwen Financial Corp. is seeking to raise about $136 million by selling notes tied to fees from managing a pool of government-backed loans.
A New York startup vows to reduce risk and bring transparency and regulatory oversight to a much-hyped investment class.
Canadian covered bonds now benefit from increased disclosure about the mortgages behind them and more certainty about recourse to the cover pool in the event of a default. But so far, this broader appeal hasn't resulted in increased issuance.
Housing and Urban Development Secretary Shaun Donovan says it's important for investors in mortgage-backed securities to receive a fair price for seized mortgages.
Perhaps the very first opportunity a lender has to convert is by turning a website visitor into a loan applicant.
Looming court battles over the fate of Fannie Mae and Freddie Mac are a key reason why lawmakers must act soon to pass housing finance reform, Housing and Urban Development Secretary Shaun Donovan said Wednesday.
With single-family credit tight, multifamily lending remains hot, but its fate also depends largely on public policy. Fortunately for Pru, this part of its multifamily business is run by Paige Warren, a woman with government experience, ties and insight.
New York's banking regulator unleashed a verbal assault on nonbank servicer Ocwen Financial Wednesday, saying the company's claims about tech-driven efficiencies are "too good to be true."