Fitch warns Ocwen-related RMBS deals face major downgrade

Fitch warns Ocwen-related RMBS deals face major downgrade

Placed on “Rating Watch Negative”

WATCH: Famous televangelist gives terrible reverse mortgage advice

Let's clear this up for Maria

S&P reportedly close to massive mortgage-bond rating settlement

WSJ: Department of Justice may get billions
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Items Tagged with 'CFPB'

ARTICLES

ICBA: 73% of community banks say regulations hurt mortgage lending

Half of all rural banks don't qualify for QM's "rural" exception
Trey Garrison
Three-quarters of community bankers surveyed say that new mortgage regulations are impacting their ability to serve borrowers, blocking potential buyers from access to mortgage credit. Here are the findings.
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Community lenders to CFPB: Take down the Rate Tracker

CMLA and CHLA are the latest to take issue with the regulator
Trey Garrison
The chorus of industry voices against the Consumer Financial Protection Bureau’s Rate Tracker is growing in numbers and volume. Here’s the latest.
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CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total
Brena Swanson
The Consumer Financial Protection Bureau has taken action on two of the country's biggest banks: Wells Fargo and JPMorgan Chase. Both banks were investigated for an illegal marketing services kickback scheme they participated in with Genuine Title.
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President Obama: No more housing initiatives

Middle class focus and praise for increased regulation
Sarah Wheeler

"We believed that sensible regulations could prevent another crisis, shield families from ruin, and encourage fair competition. Today, we have new tools to stop taxpayer-funded bailouts, and a new consumer watchdog to protect us from predatory lending and abusive credit card practices."


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More industry voices demand CFPB take down Rate Checker

NAMB: False information will harm consumers
Trey Garrison
The battle over the Consumer Financial Protection Bureau’s new “borrower education tool” unveiled earlier this week is heating up, with the National Association of Mortgage Bankers now joining the Mortgage Bankers Association in calling on the CFPB to take the “Rate Checker” online tool down. Here’s the scoop.
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CFPB: Mortgage Rate Checker here to stay

Despite industry criticism, bureau stands by Know Before You Owe
Trey Garrison
Despite concerns from mortgage bankers and lenders that the Rate Checker tool on the CFPB website might rate-bait borrowers, the bureau isn’t budging. Here's why they're standing behind the initiative.
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MBA's Stevens: CFPB mortgage rate tool needs to be taken down

No advance notice given to mortgage lenders
Trey Garrison
The Consumer Financial Protection Bureau unveiled its Rate Checker tool, but according to the head of the Mortgage Bankers Association, it doesn’t adhere to a single standard it requires of lenders, it could mislead borrowers and it should be taken down.
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CFPB Director wants more from mortgage servicers

3 takeaways from Richard Cordray’s speech
Brena Swanson
Consumer Financial Protection Bureau Director Richard Cordray’s disgruntled relationship with the mortgage servicing industry has deep roots. And judging by his latest speech at the Brookings Institution, not much has changed in his eyes.
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Hensarling tells CFPB to ditch costly office renovations

First attack of new Congressional session shows criticism not going away
Trey Garrison
Just one week into the new Congress, the head of the House Financial Services Committee is letting the CFPB know the issue of the hundreds of millions it's spending on a leased office building isn't going away. Here's what's happening.
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CFPB releases homebuyer mortgage education tool

Nearly half of borrowers do not shop for a mortgage
Brena Swanson
The Consumer Financial Protection Bureau took action to overcome the overwhelming percentage of borrowers who do not shop around for a mortgage. This new tool is designed to educate borrowers and hopefully prevent bad debt purchases.
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