Compliance & Regulation

Kevin Cordell, U.S. Navy veteran turned investor/servicer, started the habit of assigning a single point of contact to every mortgage transaction regardless of risk years before it was required by law.

The $26 billion-asset company's earnings fell 4% from the third quarter and 95% from a year earlier, to $35.8 million.

The move will give the company a presence in Texas, where several mortgage servicers and originators are located.

A Santa Clara County Superior Court judge is making three major companies pay approximately $1.1 billion to remediate lead paint used in the interior of homes built before 1978.

The new tool enables loan originators to not only ensure the loans comply with CFPB requirements before the loan application enters the system, but also offers a detailed compliance worksheet for loan officers.

Price-to-rent ratios in San Francisco, for example, are up almost 25% since 2012 and near an all-time high. Also, national prices are 15% overvalued, “in real terms,” according to the company.

The deal worked out between the two officials will be used toward housing programs and helping anti-foreclosure programs.

If wishes always come true, lots of mortgage lenders will be increasing their volumes of purchase mortgages this year. But Fed tapering and rising rates may spoil the party.

Columbia Business School Professor Christopher Mayer says he’s so convinced that reverse mortgages can be a cornerstone of responsible retirement planning that he’s gone into the business.

The third-biggest U.S. bank by assets is shuttering its default servicing operations in Hagerstown, Md., and Fort Mill, S.C.