Firstsource Solutions Ltd., Mumbai, India, a global provider of business process management services, entered into an agreement to acquire American Recovery Services Inc., a nationwide legal collections network headquartered in southern California.
The Federal Reserve Board and the Consumer Financial Protection Bureau announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2022 are exempt from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).
As HUD considers changes to its index for FHA-insured adjustable-rate mortgages away from LIBOR, the Mortgage Bankers Association and other industry trade groups urged the Department to issue a clear roadmap for servicers of FHA-insured ARMs, including specification of a replacement comparable index or indices for existing mortgages, as well as guidance on communications with borrowers.
Ginnie Mae, Washington, D.C. reported mortgage-backed securities issuance volume for October rose to $69.36 billion. It said 253,996 homes and apartment units were financed by Ginnie Mae guaranteed MBS.
The Consumer Financial Protection Bureau and the Department of Justice, in cooperation with the Office of the Comptroller of the Currency, alleged Trustmark National Bank of Jackson, Miss., engaged in redlining against Black and Hispanic neighborhoods in Memphis, Tenn.
SimpleNexus, Lehi, Utah, integrated its Nexus Closing eMortgage platform with DocMagic’s eVault and eNote technologies. The integration enables automated generation of an eNote with a tamper-evident seal and delivers the eNote to a secure eVault for delivery to the MERS® eRegistry.
Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, kicked off the MBA Risk Management, QA and Fraud Prevention Forum with a tacit acknowledgement that the past year has been the busiest for the real estate finance industry in years.
FHA on Thursday issued temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies. These waivers provide mortgagees with expanded flexibility to help senior homeowners with HECMs who are struggling financially due to COVID-19.
The Biden Administration on Wednesday announced a number of steps aimed at creating, preserving and selling to homeowners and non-profits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market.