Items Tagged with 'mortgage servicing'

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OCC terminates Wells Fargo's mortgage servicing restrictions

Fined $70 million civil money penalty
The OCC announced on Wednesday that it lifted the mortgage serving requirements on Wells Fargo now that it is in compliance with the requirements of the Independent Foreclosure Review. Wells Fargo is the most recent bank in a group of six to have its requirements lifted. But Wells Fargo didn’t come out of this unscathed and must pay a $70 million civil money penalty for previous violations of the order.
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Walter Investment tanks thanks to low interest rates

Posts GAAP net loss of $172.7 million in first quarter, stock plummets
The first quarter's historically low interest rates did more than just negatively impact the earnings of Freddie Mac, which reported a $354 million net loss in the first quarter. The quarter's low rates also obliterated the bottom line of Walter Investment Management Corporation.
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6 ways to save the family home after a death or divorce

The CFPB needs to implement changes
The people who succeed ownership of a home after a death or family breakup are known as "successors in interest" or "successors." However, the change in ownership is not a simple process and can a result in a lot of problems. The National Consumer Law Center is out to remedy this.
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CFPB Director Cordray: Credit unions misrepresent mortgage success

Consumer complaints also nearing half a million
So how are things going at the CFPB? Short answer: The American hate-hate relationship with lenders of all kinds appears to be growing. Also, credit unions are in a mortgage sweet spot, despite what trade groups report, Director Richard Cordray says. Read all of the important details here, in less than 500 words.
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First Guaranty Mortgage Corp. names Robert Eastep CFO

Former CFO at Stonegate Mortgage
First Guaranty Mortgage Corp. appointed Robert Eastep as its chief financial officer. Eastep served as CFO of Stonegate Mortgage before joining First Guaranty, and prior to Stonegate, he held senior executive positions at Union Mortgage Group, Central Virginia Bankshares and Saxon Capital.
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It’s official: Nationstar will rebrand as Mr. Cooper

Will combine originations and servicing business under new brand
Confirming plans that HousingWire brought to light late last year and further revealed earlier this year, Nationstar Mortgage will indeed be launching a massive rebranding later this year and changing its name to Mr. Cooper. And here's what the new brand of the massive nonbank officially looks like.
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