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Tag Archives: Regions Financial

Servicer Satisfaction Decreases Significantly in 2011

Consumers' overall satisfaction with primary mortgage servicers has decreased significantly since 2010, according to the results of a study released by J.D. Power and Associates Monday. Overall satisfaction fell from 747 in 2010 to 718 in 2011. J.D. Power and Associates measures customer satisfaction on a 1,000-point scale, taking four areas of servicing into consideration: billing and payment process; escrow account administration, phone contact, and website. A decline was present in all areas.

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Morgan Keegan to Pay $200M to Settle MBS Fraud Charges

Morgan Keegan & Company and Morgan Asset Management agreed to pay $200 million to settle fraud charges related to subprime mortgage-backed securities (MBS), according to a statement from the Securities and Exchange Commission (SEC). The firms, along with two principals, were accused of false valuations related to subprime mortgage securities in five funds from January 2007 to July 2007.

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