CFPB collecting data on 600 million credit accounts despite privacy, security risks

CFPB collecting data on 600 million credit accounts despite privacy, security risks

GAO report: Weaknesses in CFPB ability to assess data collection, oversight troubling

3 burning appraisal questions for the CEO of Veros

This is what Darius Bozorgi means

Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach
W S

Items Tagged with 'JPMorgan Chase'

ARTICLES

Tony West leaving DOJ after negotiating massive RMBS settlements

Led DOJ’s toxic mortgage task force
Ben Lane
In his role, he headed the DOJ’s residential mortgage-backed security task force that in the past several months has secured massive settlements with Citigroup, JPMorgan Chase, Bank of America and others over the banks’ toxic mortgage lending practices that led to the collapse of the housing economy.
Read More

CHART: Biggest bank settlements of all time

Guess which bank is on there twice?
Brena Swanson
The Bank of America settlement went on record as the biggest settlement to date. But where do the other bank settlements rank in comparison?
Read More

JPMorgan earns victory over Los Angeles in discrimination suit

City alleged that lender “engaged in mortgage discrimination”
Ben Lane
In a decision made public on Wednesday, U.S. District Judge Otis Wright said the city could not hold JPMorgan responsible for questionable lending by the former Washington Mutual Inc, under a federal law governing the wind-down of failed banks.
Read More

Mortgage trustees seek $4.5B JPMorgan settlement approval

Resolves claims over faulty home loans
Brena Swanson
U.S. Bank and the Bank of New York Mellon asked a New York state court judge to approve a $4.5 billion settlement with JPMorgan Chase over investor claims of faulty home loans.
Read More

Trustees to accept $4.5 billion JPMorgan settlement

Settlement talks had stalled in January
Ben Lane
The Reuters report states that the trustees representing the defrauded investors are set to accept the settlement for a “vast majority” of the trusts that they represent. The settlement was originally agreed to in November 2013.
Read More

S&P: Prime jumbo RMBS advance rates nose-dive

Subprime rates stabilize
Ben Lane
"Bank servicers, such as Wells Fargo and JPMorgan Chase, have maintained a high (more than 90%) level of advancing on prime jumbo collateral," the analysts write. "However, nonbank servicers, such as Nationstar and Ocwen, have advance rates that are substantially lower and have been steadily declining over the past six months."
Read More

Small mortgage lenders and large banks face off

Fannie Mae: Smaller lenders to contract credit standards
Brena Swanson
Lending standards are likely to tighten at smaller and midsize lenders over the next three months, but at the same time, the smaller guys are stealing larger banks' mortgage market share.
Read More

JPMorgan's $13B RMBS settlement progress...so far

Bank gives $6M in credited consumer relief
Brena Swanson
After reaching a $13 billion agreement to settle claims regarding the sale and issuance of faulty residential mortgage-backed securities, JPMorgan Chase is now being held accountable to make sure it is staying compliant on all of the requirements.
Read More

NAR: Big banks exiting FHA loans is a "bad trend"

JPMorgan Chase debates stopping FHA-backed loans
Brena Swanson
Just as the Federal Housing Administration is celebrating its 80th anniversary, big banks are debating ending their lending relationships with the administration.
Read More

Nonbanks pounce on mortgage market

Big banks pull back
Brena Swanson
Nonbanks are swooping in on the extra market share that megabanks are losing ground on. At the same time, the nation’s two largest originators only made 21% of the home loans in the second quarter.
Read More