Melissa DATA releases online foreclosure database

Aug 07, 2007

Senior Financial to acquire Liberty Reverse MortgageMortgagePress.comReverse mortgage companies Senior Financial Inc. has agreed to purchase Liberty Reverse Mortgage Inc. Under the terms of the agreement, Senior Financial will pay $50 million for Liberty Reverse at closing, as well as possible performance-based compensation. Pending government approval, the transaction is expected to be finalized during the fourth quarter of 2007. Senior Financial Inc. is a subsidiary of Genworth Financial Inc., a financial security company based in Richmond, Va. For more information, call (888) 436-9678 or visit www.genworth.com. Liberty Reverse Mortgage Inc. is a reverse mortgage lender based in Rancho Cordova, Calif. For more information, call (800) 218-1415 or visit www.libertyreverse.com.

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Aug 07, 2007

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....