Mortgage servicers have been getting whacked upside the head thanks to the 'Foreclosure-gate' scandal, sweeping the nation. But a Florida law firm that processes foreclosures for servicers has won a battle (for now) against state attorney general Bill McCullom (a former Republican Congressman, by the way.) Judge Jack S. Cox of the Fifteenth Judicial Circuit in Palm Beach County ordered an immediate halt to the investigative subpoena issued by McCollum's office. The "Petition to Quash" was brought by Shapiro & Fishman, LLP, which has been targeted for investigation concerning foreclosure processes throughout Florida. In his five-page ruling, Judge Cox said the Attorney General lacks jurisdiction over this matter. More to come on the National Mortgage News website in an hour…
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The promotion offers rate cuts as much as 25 basis points on new-home purchases as well as rate-and-term and cash-out refinance loans from May 4 through May 17.
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"In looking at eight currently available proprietary RM products, there is a distinct relationship between HECM growth rates and proprietary product availability," Reverse Market Insight said.
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The top bullet point in Two Harbors' rejection notice is the Mizuho credit facility does not constitute committed financing for UWM to pay for the deal.
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The combination adds to a wave of broader merger and acquisition activity that includes an ongoing bidding war over RoundPoint Mortgage owner Two Harbors
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The litigants, with some of the industry's deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.
May 4 -
Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.
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