The Consumer Financial Protection Bureau is concerned that some mortgage brokers may be shifting to the "mini-correspondent" lender model under the mistaken belief that identifying themselves as such will automatically exempt them from consumer protection rules affecting broker compensation. Collections - Other Consumer
This year, we established new, strong protections for homeowners facing foreclosure. Since these rules went into effect on January 10, we’ve been focused on helping housing counselors better understand these new federal protections available to struggling mortgage borrowers. Since last December, we’ve provided on-site and virtual trainings to more than 5,000 housing counselors in more [...]
U.S. Bancorp, the nation's largest regional lender, agreed to pay $ 200 million to resolve federal claims that it misrepresented the quality of government-backed mortgages the company originated. Collections - Other Consumer
Merscorp must face a trial to determine how much it owes Pennsylvania counties for shortchanging them on mortgage recording fees, a judge ruled. News
Bank of America plans to lay off 540 more mortgage employees in Charlotte, N.C. in the legacy asset servicing division. Collections - Other Consumer
It's the mortgage industry equivalent of driving five miles below the speed limit to avoid detection by Smokey's radar. Collections - Other Consumer
WASHINGTON -- Several federal agencies and 49 state attorneys general struck a $ 968 million settlement Tuesday with SunTrust Mortgage over charges that it violated laws governing foreclosures as well as mortgage origination and servicing. Collections - Other Consumer
The House Financial Services Committee passed three bills last week that could make mortgage lending a little easier. Collections - Other Consumer
A bill to improve access to credit and qualified mortgages for low and moderate income borrowers, while protecting consumers from bad loans, passed Monday in the U.S. House. Collections - Other Consumer
New York's banking regulator said Thursday that he intends to simplify state requirements for obtaining a mortgage banking license. News
