Commentary: Ready for Tougher Underwriting and to Pay More for Your Mortgage?

There are some new rules coming down the pike for banks that will drastically alter the lending landscape. What are they, and should you care? I’m amazed that there has not been more talk regarding a big change in banking regulation. There are new regulations being phased in that will impact every borrower in a […]

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Older Residents in These States Complained the Most to the CFPB

Mortgage-related concerns continue to account for the largest slice of Consumer Financial Protection Bureau complaints filed by older Americans according to a new report — and a few expected states represented the lion’s share of the total. Since the CFPB began collecting complaints in 2011, California leads the nation with 14,933 submissions about financial products from […]

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Moody’s Downgrades Ocwen Amid Regulatory Issues

Citing the beleaguered mortgage servicer’s regulatory troubles, Moody’s has downgraded the outlook for Ocwen Financial Corporation (NYSE: OCN) to negative. It’s the latest bit of bad news for the West Palm Beach, Fla.-based firm, which originates and services reverse mortgages through its Liberty Home Equity Solutions subsidiary: After receiving cease-and-desist orders from 21 states in […]

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Ocwen Strikes Defiant Tone in Earnings Call, Posts $32.6M Loss

Ocwen Financial Corporation (NYSE: OCN) posted a $32.6 million loss in the first quarter of 2017, but despite that news — and its recent raft of regulatory issues — CEO Ron Faris struck an upbeat and at times defiant tone on its quarterly earnings call Wednesday morning. That loss does represent an improvement from the […]

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Window to the Law: CFPB Consent Orders for RESPA Violations

Editor’s Note: This is part of a monthly video series from the National Association of REALTORS® to inform and educate members about important aspects of being a real estate professional. Watch for this series each month in RISMedia’s Daily e-News. Watch the new Window to the Law video from the National Association of REALTORS® (NAR) […]

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Reverse Mortgage Complaints Spike, But CFPB Database’s Future in Doubt

The numbers coming out of the Consumer Financial Protection Bureau were striking: Disputes over reverse mortgages spiked by 172% from 2012, the first full year that the CFPB opened its virtual doors to such complaints, to 2016. Over that same period, the CFPB saw a 102% increase in all Federal Housing Administration-related loans, while Americans […]

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