The top five mortgage servicers in the United States remain locked in tense debates with the Department of Justice, federal bank regulators and the attorneys general of each state surrounding foreclosure practices that took place in the height of the housing crisis. These negotiations yielded a revised agreement in May that includes a relief fund to adjust mortgages and provide for mediation of future cases. While no figure has been agreed upon, the banks have so far offered figures below the $20 billion amount floated by regulators.
On March 29, FDIC Chairman Sheila Bair issued a formal statement outlining a new rule change addressing mortgage loan risk retention and the “misaligned economic incentives arising from the widespread [...]
New rules issued by the Federal Reserve banning mortgage broker kickbacks or yield spread premiums (YSP) tied to interest rates are being applauded being consumer groups and denounced by mortgage [...]
The Indiana Business Research Center (IBRC) recently completed an issue brief drawing from the findings of a new report by the Federal Deposit Insurance Corporation. The IBRC report illustrates that [...]
When payday rolls around, many consumers will be trying to figure out which bills they will pay and which ones will wait until another paycheck comes in. With costs increasing for necessary expenses such as gasoline, utilities and healthcare, consumers are finding it harder to make ends meet. If you, like many others, are wondering how you can help your clients stretch their paychecks and make their money go further, you will want to attend one of these trainings.
In July 2010, Congress created a new federal agency to protect American consumers. The Consumer Financial Protection Bureau’s (CFPB) mission is to make consumer financial markets work better for American [...]
RealtyTrac reported yesterday that in 2010, banks repossessed over a million homes. That is an increase of 15 percent more than in 2009. Market analysts suggest that this represents a [...]