Articles by Sarah Wheeler

Monday Morning Cup of Coffee: Wells Fargo employees file class action lawsuit

Plus a political debate that will rival Super Bowl numbers and affordable housing
The presidential candidates in Monday's debate will be asked questions on "achieving prosperity, securing America and America’s direction," which means that housing policy could theoretically be discussed, although I wouldn't create a drinking game around it. A surer bet would be attacks on "Wall Street banks" in general and one big bank in particular: Wells Fargo.
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Evictions in America: A tale of two cities

The approach of NYC versus San Francisco is enlightening
The contrast between how New York City and San Francisco have approached the affordable housing crisis is striking. Both cities are large metropolitan areas with little geographical room to build. But in once case city action led to an 18% decrease in evictions, in another it led to an increase of 32%. 
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CFPB levies $100 million fine against Wells Fargo

Employees opened more than 2 million fake accounts to get sales bonuses
The Consumer Financial Protection Bureau levied the largest fine in its history — $100 million — against Wells Fargo Thursday for the "widespread unlawful" practices of employees who opened more than 2 million fake depository and credit accounts to get sales bonuses. These accounts, opened under existing customers' names without their knowledge, often racked up fees or other charges.
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Hot Seat: Patrick Nackley of Superior Home Services

Taking a proactive approach to damaged properties in default
Servicers can often remediate damage to vacant properties in default prior to the foreclosure sale taking place. This opportunity is not always available, depending on jurisdiction or circumstances particular to a given loan, but frequently the option is available.
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Executive Conversation: Deborah Garcia-Gratacos on servicing the Hispanic market

Deval provides bilingual documents and personnel for optimal communication
Hispanics are the fastest-growing segment of the American population, with 55.3 million Hispanics in the United States in 2014 and this is projected to grow to 30% of the population by 2060. Deval LLC discusses the unique requirements for servicing the Hispanic community.
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From HW Magazine

The state of gender equality in housing

How does the industry increase participation by women across the board?
Gender data isn’t always reported; even when it is, there is usually a long lag time, making the information less helpful. As Morgan Stanley noted in publishing its study, “While human resources departments should have ready access to gender-related data, companies either don’t consider this metric meaningful to investors or don’t want to expose themselves, particularly when no requirement exists.”
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From HW Magazine

Avoiding the pitfalls of Silicon Valley culture

Not everything translates to mortgage finance
The solutions that offer so much promise also open up the possibility of 24/7 availability. The mission of many in our industry is satisfying consumer demand, and understandably so. But we should be careful. Sometimes consumers are ridiculous and unreasonable. Sometimes meeting their demands comes at too high a price.
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From HW Magazine

Hot Seat: Kim Hoffman of Sutherland Mortgage Services

Bringing down origination costs with creative solutions
Being creative, thinking outside the box, and working with partners who can provide customized solutions such as outsourcing non-core functions offshore to capitalize on the highly educated work force, lower salary requirements, and ability to work shifts around the clock, can really be a productivity and expense game-changer.
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