The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Investments

Deutsche Bank massive RMBS penalty gets cut in half

Justice reduces $14B fine substantially

Deutsche Bank announced last week that it finally reached a settlement in principle with the Department of Justice in connection with the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007.

Deutsche Bank initially fought the larger charge of $14 billion; the latest figure puts the penalty in the $7 billion range.

Under the terms of the settlement agreement, Deutsche Bank agreed to pay a civil monetary penalty of $3.1billion and to provide $4.1 billion in relief to American homeowners.

“The consumer relief is expected to be primarily in the form of loan modifications and other assistance to homeowners and borrowers, and other similar initiatives to be determined, and delivered over a period of at least five years,” Deutsche Bank said in a statement.

“The settlement is subject to the negotiation of definitive documentation, and there can be no assurance that the U.S. Department of Justice and the bank will agree on the final documentation,” the statement added.

Deutsche Bank expects to record pre-tax charges of approximately $1.17 billion in the financial results for the fourth quarter as a result of the civil monetary penalty. 

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The suit, filed by former COO Tammy Richards, accuses loanDepot CEO Anthony Hsieh of ordering the sales team to “trust [their] borrowers” and close loans, disregarding proper underwriting etiquette. 

Sep 23, 2021 By and

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New home sales rise for second consecutive month

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3d rendering of a row of luxury townhouses along a street

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