How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
W S
Lending / The Ticker

ResCap mortgage settlement green-lighted

Gavel on desk
/ Print / Reprints /
| Share More
/ Text Size+

Another mortgage settlement took a step closer to completion this week, with bankrupt Residential Capital LLC receiving final approval from a New York bankruptcy judge to proceed with a proposed settlement involving mortgage borrowers associated with the company.

The settlement would reduce an original $1.9 billion claim to $300 million, according to a report published this week.

Per Law360:

U.S. Bankruptcy Judge Martin Glenn signed off on the accord after language was added to the document to placate PNC Bank NA, which worried that the deal could interfere with its rights in a related multidistrict litigation pending in Pennsylvania federal court.

Source: Law360
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus