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Bankruptcy Ruling Benefits Foreclosing Parties
9/22/2017 3:35 PM
The 9th Circuit Court of Appeals has barred claims due to the borrower"s failure to amend include the claims in their bankruptcy schedules.....On Aug. 29, the 9th Circuit provided foreclosing parties some well-needed protection from borrower lawsuits in Meyer v. Northwest Trustee Services. While the Meyer decision is unpublished and in...Read More
Acquisitions Might Be Factor in Equifax Data Hack
9/22/2017 3:35 PM
Aggressive growth through a string of acquisitions might have been a big factor in the data breach disclosed last month by Equifax Corp.....After former General Electric executive Richard Smith became Equifax"s chief executive officer in 2005, he quickly embarked on a plan to rev up growth.....This included 14 acquisitions that have bee...Read More
BofA Could Avoid Massive Foreclosure Judgment
9/22/2017 3:35 PM
Bank of America Corp. has reached a settlement with a California couple in a wrongful foreclosure action for far less than a massive judgment imposed earlier this year.....Back in March, a bankruptcy judge ordered the Charlotte, North Carolina-based organization to pay a $46 million judgment for a wrongful foreclosure.....BofA reportedl...Read More
Mortgage Rates Rise, VA Rates Lowest
9/22/2017 3:35 PM
After nearly two months without an increase, mortgage rates moved higher this past week. Rates on home loans for veterans remain the lowest.....On single-family mortgages that were closed during the month of August, thirty-year note rates averaged 4.27 percent.....The average rose 2 basis points from the preceding month. Compared to the...Read More
Finance of America Increases Correspondent Focus
9/22/2017 3:35 PM
Finance of America Mortgage revealed a new unit that will target small financial institutions. Included in the offering are correspondent acquisitions.....As part of the Mortgage Daily Mortgage Origination Survey, the lender reported that it closed nearly $8 billion in single-family loans during the first half of this year.....B...Read More