The FHA will soon begin taking steps to address faulty foreclosures of FHA-insured mortgages as a result of the recent foreclosure mess dominating headlines, with many of the actions expected to be “significant,” according to a recent alert from Patton Boggs LLP. Action is expected...
The regulator said in an amicus brief Wednesday that home equity investments can be considered credit and subject to Truth in Lending Act requirements.
“We’re still not at the level of profitability where we should be in home lending, just given as we continue to wind down that servicing book,” said Charlie Scharf, CEO of Wells.
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