TRID is a real obstacle to mortgage process

Fed adopts new rule limiting 'too big to fail' bailouts

New emergency lending policy targets 'broad-based' issues, not specific firms

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Items Tagged with 'Wells Fargo'


Wells Fargo fined $81.6 million for violating federal bankruptcy rules

DOJ: Wells Fargo failed to notify bankrupt homeowners of mortgage payment increases
Wells Fargo will return $81.6 million to homeowners after reaching a settlement with the Department of Justice’s U.S. Trustee Program over the bank’s “repeated failures” to provide bankrupt homeowners with legally required notices of mortgage payment increases.
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Fed proposes new bailout rules for biggest banks

Would be required to carry $120 billion in debt to reduce taxpayer burden
Eight of the country’s largest banks would be required to raise $120 billion to comply with a new rule proposed Friday by the Federal Reserve Board, with the money designated to recapitalize the bank should it fail, lessening the likelihood of a a government bailout.
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Oakland sues Wells Fargo for mortgage discrimination

Becomes latest city to sue for allegedly steering minorities into high-cost loans
The city of Oakland, California is the latest municipality to sue one of the nation’s largest banks. The city accuses Wells Fargo of allegedly steering minority borrowers into higher-cost loans, which led to rampant foreclosures and neighborhood blight.
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Chase Mortgage CEO to CNBC: FHA loans same as "subprime lending"

“We’re not in the subprime lending business”
Kevin Watters, CEO of Chase Mortgage Banking, said in an interview with CNBC on Monday that the Federal Housing Administration’s loan requirements look an awful lot like subprime lending, and they're not in the subprime lending business. This is a bold statement given that these are the very loans that are supposed to expand the credit box to underserved borrowers.
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