First National Financial Corp., Toronto, has been added to the Standard & Poor's Select Servicer List as a master, special, and primary servicer of commercial mortgages.S&P said the company is the first Canadian commercial mortgage servicer to be added to its Select Servicer List. The rating agency cited the company's "extensive history of originating, securitizing, and servicing assets, combined with an experienced management team and suitable computer systems." S&P said it admits servicers to the list based on "a comprehensive assessment of firms' operational capabilities for servicing commercial mortgage, residential mortgage, or asset-backed portfolios." S&P can be found online at http://www.standardandpoors.com/ratings.
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The lawsuit accuses the lender of violating 17 sections of the California labor code, including failure to pay all minimum, regular and overtime wages.
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Consumers have filed at least 30 such complaints against industry players this year for allegedly violating the Telephone Consumer Protection Act.
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In line with broader trends, the GSEs have been putting new limitations on forbearance and putting more of an emphasis on mods.
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AnnieMac Home Mortgage will pay 171,074 customers impacted in a 2024 hack, making it the fourth lender in recent weeks to end a class action suit over a breach.
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Fannie Mae and Freddie Mac are under directives to make mortgage-backed securities purchases that can exert downward pressure on rates or limit increases.
July 31 -
The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking for the Community Reinvestment Act that would tailor requirements for smaller institutions and monitor which groups receive community development grants.
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