More restrictions expire, ushering in new wave of home foreclosures
The number of homes with foreclosure filings rose 29% in January as lenders took advantage of expiring federal restrictions, according to new data from Attom Data Solutions
by Daniel Houston Feb 10
Credit report errors are harming mortgage borrowers: Fed watchdog
Credit bureaus have 'little incentive to treat consumers fairly when their credit reports have errors,' according to Consumer Financial Protection Bureau, which analyzed 700K complaints
by Matt Carter Jan 6
It's the end of the road for LIBOR mortgages
Regulators spell out rules for transitioning ARM borrowers to other indexes by 2023
by Matt Carter Dec 7
Wells Fargo fined over mortgage loan modification practices
Wells Fargo has agreed to pay a $250M fine after an investigation by federal banking regulators found fault with its practices for helping homeowners with mortgage problems
by Matt Carter Sep 13
With protections lifting, improvement in forbearance numbers slows
The numbers are headed in the wrong direction for loans that are backed by private lenders rather than the government, according to new survey by the Mortgage Bankers Association
by Matt Carter Aug 24
Take your pick: Encompass handles both old and new qualified mortgage rules
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31
by Matt Carter Aug 18
1.7M homeowners still in forbearance as protections expire
Loan servicers must attempt to work with borrowers before initiating foreclosure proceedings
by Matt Carter Aug 9
Lenders granted some leeway to initiate foreclosures
Mortgage lenders will soon be able to initiate foreclosure proceedings against homeowners who are 120 days behind on their mortgage payments
by Matt Carter Jun 29
Spike in refis led last year's home-lending boom, new data shows
Lenders in 2020 refinanced more than twice as many loans as they reported the previous year, a dramatic feature of the pandemic lending boom
by Daniel Houston Jun 22
FTC and CFPB to landlords: We'll hold you accountable to eviction ban
The joint letter issued to landlords entreated them to ensure that they and their debt collectors were fully complying with the FTC Act and the Fair Debt Collection Practices Act
Mr. Cooper
The company says there was a processing error, and is looking to correct the withdrawals as soon as possible
by Kelsey Ramírez Apr 28
QM rule
Bureau pushes back mandatory compliance date despite industry concerns
by Kelsey Ramírez Apr 28
Nationwide Equities fined $140K for alleged deceptive advertising
The Consumer Financial Protection Bureau says the lender 'misled borrowers into believing they could not lose their homes with a reverse mortgage'
by Kelsey Ramírez Apr 27
CFPB
After months of warning of a crackdown, the CFPB has launched probes into several mortgage servicers, people familiar with the matter say
by Kelsey Ramírez Apr 20
Forbearance rate drops for 7th week in a row
2.3M homeowners still aren't making their monthly mortgage payments
by Matt Carter Apr 19