This past weekend we published a blog about how hard it was for customers and members of the media to contact Seterus, the residential servicing division of IBM. Over the weekend, one veteran mortgage banking executive who we've known for years weighed in on the matter. He did not want to be identified by name, but said that Seterus was recently given his loan to service. This is what he had to say: “My loan was sold to them and we didn't receive any notice from the old lender. I tried to reach them and forget it!” A few months back, a family member of mine, who had a loan with Chase, suddenly found Seterus as his servicer. The first thing Seterus did was to hike his escrows…
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
April 26 -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
April 26 -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
April 26 -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
April 26 -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25