The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.
Block One Capital has signed a binding term sheet to acquire 40% of the equity of Finzat, a private entity aiming to develop a blockchain system to create a safer, more compliant digital mortgage process.
Ocwen Financial Corp. will move its servicing portfolio to Black Knight's LoanSphere MSP system of record, following years of regulatory scrutiny of its existing technology provided by Altisource Portfolio Solutions.
Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.
The Federal Housing Administration has extended waivers on timelines for disaster-related re-inspections to properties in Puerto Rico affected by Hurricane Maria as well as other properties impacted by California wildfires.