Colonial Savings FA, Fort Worth, Texas, has become the 27th company to be inducted into Freddie Mac's Hall of Fame for achieving Tier One servicing status four years in a row, according to Colonial.The Tier One designation is given to servicers whose management of performing and nonperforming loans is deemed superior for two or more quarters in a given year. Freddie Mac ranks servicers in four tiers based on their investor reporting and default management. Colonial Savings can be found online at http://www.colonialsavings.com.
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Loandepot is arguing that its local rival, West Capital Lending, has no standing to sue it over the statute meant to protect consumers from predatory lending.
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Christopher Peterson, a law professor at the University of Utah and former senior advisors at the Consumer Financial Protection Bureau, is the latest top hire for a Democratic state stepping up consumer protection.
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U.S. District Judge James Robart found the complaint lacked statutory standing for a RESPA claim and the plaintiffs failed to identify any deceptive conduct.
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The sale comes several months after private equity firm Hale Capital Partners acquired the financially troubled company formerly known as Voxtur Analytics.
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Meanwhile, MISMO has updated its guide to incorporate the updated scores for use with mortgage insurers and VantageScore Solutions rolls out a new model, 5.0.
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The real estate investment trust struggled with legacy assets and its bottom line, but sees a path forward with non-QM, third-party originations and AI.
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