CFPB secures $27.7 million judgment against foreclosure relief scammers

The next president needs to speak up about housing right now

Want my vote? Here's how to get it

CFPB, DOJ take action against Provident Funding for discriminatory lending

Could pay $9 million in damages
W S

News

Morningstar: Single-family rental securitization delinquencies mainly below 1%

With only one exception
Jacob Gaffney
It may be a relatively new market, but single single-family rental securitizations are doing pretty well despite the asset class' infancy. The delinquency rate across nearly every single single-family rental securitization is below 1%, according to a Morningstar Credit Ratings report on performance in the sector.
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Aspen Grove Solutions promotes Ron Briggs to senior vice president

Will oversee business development
Ben Lane
In this role, Briggs will lead the business development team and is tasked with supporting clients and ensuring that Aspen Grove delivers timely and cost-effective solutions to customers, the company said in a release.
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CFPB secures $27.7 million judgment against foreclosure relief scammers

Problem is, the scammers have only $655,737
Ben Lane
The Consumer Financial Protection Bureau and the State of Florida announced Friday that a federal judge granted final judgment against a Florida law firm and its associated companies, requiring the companies to pay $27.7 million for their part in a massive foreclosure relief scam that defrauded approximately 2,000 consumers.
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This MBA chart shows the real impact of the recession on homeownership

Young buyers taken out of the market
Brena Swanson
The latest chart in the Mortgage Bankers Association’s series echoes what most of the industry already knows: Millennials are not buying.
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WATCH: Former Wells Fargo CEO rails against regulatory burdens

This stunts America’s growth
Brena Swanson
While America should be growing faster, the wrong mix of fiscal and monetary policies is smothering any room for potential growth, especially when it comes to Dodd-Frank bank reforms.
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The next president needs to speak up about housing right now

Want my vote? Here's how to get it
J. Ronald Terwilliger
For far too long, housing problems have been largely ignored by the mainstream media and neglected by Washington. A housing focus has also been noticeably absent from our nation’s political discourse. That needs to end, right now.
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GDP contracts 0.7% reinforcing weak start to 1Q

Economists remain optimistic
Brena Swanson
Friday's second estimate revealed further truth behind how tough the start of the year was, with the economy contracting 0.7% in the first quarter of 2015. Could this be the start of a recession?
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JPMorgan Chase reportedly laying off 5,000 employees

Cuts would represent at least 2% of bank’s staff
Ben Lane
JPMorgan Chase is set to lay off approximately 5,000 of its employees as part of cost-cutting measures. The job cuts reportedly already began earlier this year and would represent at least 2% of the bank’s staff.
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CoreLogic expands building permit database

Now features 35 different permit types
Ben Lane
CoreLogic, a property information, analytics and data-enabled services provider, announced Thursday that its building permit database now features 35 different permit types, covering 65% of the U.S. residential and commercial market.
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CFPB, DOJ take action against Provident Funding for discriminatory lending

Could pay $9 million in damages
Brena Swanson
In the latest investigation by the Consumer Financial Protection Bureau and the Department of Justice, they filed a complaint against Provident Funding Associates for charging higher broker fees on mortgage loans to African-American and Hispanic borrowers. The lender could potentially pay $9 million in damages if the court accepts the order.
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