Settlement

Bureau of Consumer Financial Protection Hits Wells Fargo With $1 Billion Fine
The newly branded “Bureau of Consumer Financial Protection,” formerly known as the “Consumer Financial Protection Bureau,” has announced a settlement with Wells Fargo Bank
The newly branded “Bureau of Consumer Financial Protection,” formerly known as the “Consumer Financial Protection Bureau,” has announced a settlement with Wells Fargo Bank, assessing a $1 billion penalty against the bank. The Bureau’s action is a coordinated action with the Office of the... Keep Reading....
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The national foreclosure inventory rate reached its lowest point in nearly a decade, according to new data from CoreLogic
 The national foreclosure inventory rate reached its lowest point in nearly a decade, according to new data from CoreLogic.   During June, 4.5 percent of mortgages were in some stage of delinquency, down 0.8 percent from one year earlier. The foreclosure inventory rate in June was 0.7 percent, down... more
Last year saw a 646 percent increase in foreclosures against seniors with federally-insured reverse mortgages as compared to the previous seven years, according to Department of Housing and Urban Development (HUD) data received by a Freedom of Information
 A pair of new data reports are affirming the strengthening of the housing market by highlighting the evaporating levels of foreclosure activity and mortgage delinquencies.   Black Knight Financial Services is reporting the national foreclosure inventory fell by 12,000 in July, bringing the total... more
The frequency of defects and fraud in mortgage applications remained unchanged between October and November
 The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased by 1.2 percent from May to June, according to the latest First American Loan Application Defect Index report. On a year-over-year basis, the Defect Index shot up by 16.7... more
National REO and property preservation service providers TruAssets LLC and Northsight Management LLC have announced that they are merging
 National REO and property preservation service providers TruAssets LLC and Northsight Management LLC have announced that they are merging. The new company will retain the Northsight Management name and will be led by TruAssets’ Steve Johnson as President and Northsight Management’s Josh Sarchet as... more

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