The annual suspension will run from Dec. 18 through Jan. 3.
Earl Gross withheld over $8 million in loan payoffs that were due to Wells Fargo.
The terminations involve workers in the default servicing area and in loan originations.
Subservicing volumes have surged by almost 40% in the past year as servicing compliance demand has increased.
Single-family rental securitization prospects look brighter to supporters who find the REO-to-rental trend has evolved enough to bode well for a new wave in 2014, but analysts warn of unique new investor risks.
The plan resolves more than $100 billion in potential lawsuits.
Foreclosure filings continued to fall in November, due in large part to the fewest amount of homeowners starting the process since December 2005.
A new hybrid appraisal product is now being offered that fills the gap between an automated valuation model with property condition report and a field appraisal.
The Jacksonville, Fla.-based company will give the FDIC $24 million in cash and a $24 million promissory note to terminate loss-sharing agreements related to its Bank of Florida acquisition.
The firm has entered into a definitive agreement with an undisclosed national depository to acquire a pool of mortgage servicing rights backed by Fannie Mae.
A big increase in short- and long-term affordable rental housing demand means the window of opportunity for multifamily and foreclosure-to-rent investors and developers nationwide continues to expand.
A more mature bank-owned foreclosure-to-rental property market is attracting a different type of investor into this new reality and likely changing how business will be done in 2014, an insider says.
Gov. Andrew Cuomo is proposing regulations that expand mortgage relief options available to homeowners who owe more than the current market value of their homes and share benefits with investors.
The bank reduces servicing expenses by $1 billion per quarter.
More than 1,800 financially distressed homeowners lost a total of at least $12 million in fees they paid the Rodis Law Group and Americas Law Group.