The Federal Housing Agency and the Consumer Financial Protection Bureau have been called on to fix servicing problems and create additional protection for the 480,000 outstanding reverse mortgages in the country.
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Non-Bank Mortgage Servicers Should Expect Increased Regulator Scrutiny
According to a new report by Fitch Ratings, as forbearance programs expire and borrowers transition into other loss mitigation programs, servicers should be wary of customer complaints and regulatory oversight.
Read More »CFPB Plays Defense Against PHH Corp.’s Appeal of $109 Million Penalty
The Consumer Financial Protection Bureau is defending itself against a $109 million penalty the Bureau handed down to PHH Corp. for allegedly accepting kickbacks from mortgage insurers.
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