"Today's lenders are paying many times over for mistakes that may have been out of their control," Bill Cosgrove, MBA chairman, said Monday at the MBA Convention in Las Vegas. "And it's the consumer who pays the ultimate price. It's time for the penalty phase to end."
Five years after the financial crisis, Bill Cosgrove, CEO of Union Home Mortgage, explained that once America made it through the financial crisis, it vowed to never go back to that same type of risky lending.
Ohio governor Ted Strickland on Monday announced non-binding agreements with nine key mortgage servicers over their loss mitigation efforts, touting the pact as a "historic day in the state of Ohio."
The Dayton Daily News, which originally reported on the agreements, said that Strickland was joined by Ohio Mortgage Bankers Association president Bill Cosgrove in announcing the new pacts between the state and key servicers.
From the report:
The darlings of 2014, the single-family housing investment and rental businesses, didn’t dominate like last year, but they still had a strong showing. After snagging four of the top five spots on the 2014 HW Fast50, two SFRs placed in the top five in 2015 and three made the top 50..
Bank loyalty is not a factor for borrowers in shopping for a mortgage loan. Borrowers tend to select a mortgage originator based on product, price and their expectation for a convenient transaction process. Read More