Tag Archives: cfpb

It’s the end of the road for LIBOR mortgages

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No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading →

Wells Fargo fined over mortgage loan modification practices

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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. Continue reading →

Deep dive into mortgage data claims glaring racial disparities

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Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to in-depth analysis by The Markup, a nonprofit newsroom that’s “watching big tech.” Continue reading →

Servicer Mr. Cooper investigated for unauthorized withdrawals

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Mr. Cooper announced that many of its consumers had unauthorized withdraws, now the Consumer Financial Protection Bureau is looking into the matter and the adverse effects it may have. Continue reading →

Nationwide Equities fined $140K for alleged deceptive advertising

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The Consumer Financial Protection Bureau says the lender “misled borrowers into believing they could not lose their homes with a reverse mortgage.” Continue reading →

Keep your eye on these top 10 purchase lenders this year

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Refinances are decreasing as purchases take over market share. These top 10 purchase lenders from 2020 are best prepared to dominate lending in 2021. Continue reading →

Here are the top 10 mortgage lenders for 2020

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The release of 2020 Home Mortgage Disclosure Act data reveals a growth surge across mortgage lending. One lender recorded more than 340 percent growth from the previous year. Continue reading →