In settling with state regulators, the Miami-based electronic payment processor is looking to close the books on a 2021 test that triggered $2.3 billion in erroneous mortgage payments. Continue reading
The plan to move to a bi-merge process allowing lenders to use two, instead of three, credit reports was announced last October by Fannie and Freddie’s federal regulator. Continue reading
Washington Trust “vehemently” denies the allegations but joins a long list of lenders who have coughed up $98 million in settlements since the DoJ launched an anti-redlining initiative in 2021. Continue reading
Between 2018 and 2020, Fannie and Freddie purchased close to 600 shared equity loans, before realizing that current regulations might prohibit them from doing so. Continue reading
State Employees Credit Union of Maryland is the third lender to sign with Newzip, which helps lenders court homebuyers by offering them discounts when they agree to work with preferred real estate agents. Continue reading
In addition to selling Empower and Optimal Blue, the FTC consent order would require ICE and Black Knight to seek prior approval before acquiring an interest in another loan origination system. Continue reading
Lexington Law and CreditRepair.com parent Progrexion filed for bankruptcy protection in June after the court ruled collection of upfront fees violated the Telemarketing Sales Rule. Continue reading
Regulators claim lenders’ marketing agreements with more than 40 real estate brokerages, including Realty Connect USA, were a conduit for kickbacks that generated more than 1,000 mortgage referrals. Continue reading
It’s not just regional banks but larger lenders, such as JPMorgan and Bank of America facing uncertainty if interest rates stay higher for longer, analysts said. Continue reading
Fannie Mae, Freddie Mac and the Federal Housing Administration outlined relief for homeowners as FEMA and the state of Hawaii rushed to provide emergency housing for displaced residents. Continue reading