The Atlantic, Feb. 25, 2016–White, Gillian B.
Today, home loans are consistently more expensive for black and Hispanic buyers than they are for white buyers. Why? Because banks and other lenders direct these groups toward high-risk, high-priced products.
National Mortgage News, Feb. 25, 2016–Finkelstein, Brad
Amid growing scrutiny of how the hand-off of mortgages is managed after loan closings and bulk sales, servicers are working to automate the entire process to create a consistent and accurate onboarding experience for borrowers.
National Mortgage News, Feb. 25, 2016–Peters, Andy
PHH Corp., Mount Laurel, N.J., reported a bigger loss in the fourth quarter, on costs to restructure its business and a loss on sales of mortgage servicing rights.
National Mortgage News, Feb. 25, 2015–Collins, Brian
Understanding how consumers pay their debts over time is expected to widen access to credit for consumers recovering from financial problems or who were hard to score before. Just how many it will benefit is an open debate.
HousingWire, Feb. 25, 2016–Swanson, Brena
Nationstar Mortgage Holdings’ fourth quarter adjusted earnings were $34 million, or 32 cents per share, compared to $32 million, or $0.30 per share, for the third quarter. The increase was driven primarily by sequential improvement in servicing profitability and strong originations earnings.
HousingWire, Feb. 25, 2016–Swanson, Brena
Fannie Mae announced it named New Jersey Community Capital, a non-profit Community Development Financial Institution, as the winning bidder on the company’s second Community Impact Pool of non-performing loans.
HousingWire, Feb. 24, 2016–Lane, Ben
The Consumer Financial Protection Bureau wants the financial industry to think of it as “an important new friend and ally” in helping to serve the financial needs of the public, as CFPB Director Richard Cordray told the Credit Union National Association.
Reuters, Feb. 24, 2016–Freed, Dan
Wells Fargo continues to face federal and state mortgage probes, even after the $1.2 billion settlement it reached in early February to resolve claims of misconduct related to mortgages insured by the Federal Housing Administration.
New York Post, Feb. 29, 2016
Ocwen Financial is again being probed by regulators over fees and expenses related to liquidated loans and bank-foreclosed properties, the company said in a regulatory filing on Monday.
National Mortgage News, Feb. 29, 2016–Sinnock, Bonnie
After imposing a virtual moratorium on adding new issuers, Ginnie Mae is again accepting applications from mortgage companies seeking to pool loans for securitization and servicing.
