Servicing

The Consumer Financial Protection Bureau is about to take another step forward in its efforts to write a series of rules to define "larger participants" in specific markets, including those in the consumer credit reporting business.

Following an undercover investigation that found "disturbing evidence" of discrimination in the management of real estate owned properties in communities of color by a number of undisclosed banks the National Fair Housing Alliance has filed a federal housing discrimination complaint against Wells Fargo & Co. and Wells Fargo Bank, N.A.

The Federal Housing Finance Agency has conceded that the higher incentive payments the Treasury Department is willing to pay make principal reduction cost effective for Fannie Mae and Freddie Mac.

Over the last 10 years, $23.7-billion State Employees' Credit Union in Raleigh, N.C. has not had a single mortgage handed back to it by an investor due to poor underwriting.

In 1848, the discovery of gold in California proved to be one of the most significant events in U.S. history. The dream of striking it rich and reaping the benefits of copious finds held a strong allure for many adventurous risk takers. Today, investors armed with reams of data and metrics, and that same adventurous spirit, are looking at the foreclosure to rental property market with that same gleam in their eyes.

The Consumer Financial Protection Bureau wants to make mortgage servicing more consumer friendly so borrowers will be given advance notice of interest rate adjustments and how to avoid costly forced-placed insurance.

643 Capital Management, a private investment firm focused on debt and equity strategies in distressed real estate, has cut off ties from McKinley Capital Partners and formed its own company.

National home prices declined in January from December by 0.9%, reaching a level not seen since March 2003, according to Lender Processing Services.

Massachusetts' new "Right to Cure Your Mortgage Default" notice has been voluntary, but starting next month it becomes mandatory.

After having gone through an enormous disruption characterized by unexpected deterioration and massive losses, investors in residential mortgage-backed securities have a number of reasons to feel unsettled.