Mortgage bankers posted huge profits from their loan origination and secondary marketing activities during the second quarter of 2020. Servicing, not so much. (Includes data chart.)
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The banking industry's aggregate portfolio of servicing for others was down slightly in the second quarter, although the top five players shed a combined $100 billion. (Includes data chart.)
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So far, the CFPB has fined seven VA lenders a total of $2.02 million for false and misleading advertisements. It demonstrates the bureau’s interest in protecting servicemembers and veterans, according to attorneys.
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Monitoring calls between employees and borrowers can provide insight on customer satisfaction and help servicers meet compliance requirements, according to S&P Global Ratings.
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HUD issued a 90-day moratorium on foreclosures on FHA-insured homes in the presidentially declared disaster areas ravaged by Hurricane Laura.
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