Home / Author Archives: Kerri Panchuk

Author Archives: Kerri Panchuk

Numbers Don’t Lie: Complaints to the CFPB May Not Be What They Seem

In fact, the industry discovered that simply analyzing data from the CFPB is not enough, especially since the database arrives with its own built-in bias—that bias being the very nature of the database itself. It collects complaints, not praises, and ignores the larger universe of loans serviced nationwide. To fill the void of well-rounded data, Black Knight Financial Services and the Five Star Institute jumped into the missing space and used data from the CFPB database and its own analytics to inform its latest white paper on CFPB complaints. This select print feature originally appeared in the May 2015 issue of DS News magazine.

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Foreclosure Prevention Bill Passes California Senate

The California Mortgage Bankers Association applauded the state Senate’s passage of Bill 1137 on Wednesday. The bill, which passed the House in late June, is designed to give distressed borrowers more protection by giving those in trouble more notice before eviction—namely 60 days rather than 30 days.

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U.S. Conference of Mayors: Congress Should Help Neighborhoods Blighted by Forecl

The U.S. Conference of Mayors has issued a statement to U.S. Congress saying the conference supports H.R. 3221—a comprehensive housing bill that will fund $300 billion in FHA-insured loans to help American families—as long as the bill continues to include a provision that will supply $4 billion in funding for cities to reform neighborhoods affected by decaying foreclosures.

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NC Governor Pushes for Foreclosure Prevention Bill

North Carolina Governor Mike Easley said Wednesday that he’s calling on the General Assembly to pass legislation that will require foreclosing parties to give subprime borrowers at least 45 days notice before beginning the official foreclosure process.

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HOPE NOW: 1.7 Million Workouts on Loans Since July 2007

HOPE NOW national alliance of mortgage servicers, counselors and investors created to help borrowers work out their troubled loans—announced Wednesday that the organization managed to aid approximately 170,000 homeowners in May of 2008 and is on pace to help 519,000 distressed borrowers in the second half of this year.

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Moody?s Takes Action Against Employees Over Ratings

At a time when credit rating agencies are searching for ways to improve the credit rating process and restore market confidence, Moody’s Investors Service announced Wednesday that the company has launched disciplinary proceedings against several employees who allegedly issued flawed ratings on 11 European CPDOs.

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