"Mortgage servicers can't hide behind their bad computer systems or outdated technology," said CFPB Director Richard Cordray.
CFPB Slams Mortgage Servicers for Failing to Invest in Technology
Mortgage servicers have failed to make significant investments in technology and compliance systems, resulting in substantial harm to consumers, according to a report issued Wednesday by the Consumer Financial Protection Bureau.  more »
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As Colorado Springs' housing market improves, the area's foreclosure picture continues to brighten.
The Supreme Court agreed Tuesday to hear a case regarding a clause in Fannie Mae's corporate charter that awards jurisdiction over every case involving the government-sponsored enterprise to federal courts.
The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.
Foreclosure rates in Southwest Florida have tumbled to half their levels from a year ago.
Cowboys Dancehall, a popular San Antonio country music venue routinely among the most lucrative local alcohol-selling establishments, has filed an emergency bankruptcy petition to stall a foreclosure sale scheduled for next week.
Nationstar Mortgage is issuing its fifth securitization of nonperforming reverse mortgages, a unique esoteric RMBS class the mortgage servicer has engaged in four previous transactions.
The home foreclosure rate in the Wichita, Kan., area continued to drop in April, as the city has largely bounced back from a decade of financial struggles in its housing sector.
A former attorney from Irvine, Calif., pleaded guilty Monday to being involved in mortgage fraud scheme that cost thousands of victims about $6 million.
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