DS News

DS News

Justice Department, CFPB Settle With California Lender To Resolve Discrimination Claims

By Brian Honea The U.S. Department of Justice and the Consumer Financial Protection Bureau (CFPB) have reached a settlement resolving allegations of discriminatory lending based on race on the part of California-based Provident Funding Associates, according to a joint announcement from the two government agencies. The post Justice Department, CFPB Settle With California Lender To Resolve Discrimination Claims appeared first …

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Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs

By Brian Honea In an announcement regarding the letter to Castro, Waters said that many senior citizens have faced foreclosure or will face foreclosure due to “fraudulent lending practices” on the part of lenders surrounding HUD’s previous protocol for the HECM program. The post Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs appeared first on DSNews. …

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Pending Home Sales Rise to Highest Level in Nine Years

By Brian Honea Yun expects a rebound heading into the summer, following April’s decline in existing-home sales, but the chance of significant gains will depend on an increase in inventory and evidence of moderating price growth now that interest rates have started to rise. The post Pending Home Sales Rise to Highest Level in Nine Years appeared first on DSNews. …

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Re-Introduced Ohio Foreclosure Expedition Bill Passes House, Heads for Senate Vote

By Brian Honea A bill to expedite the lengthy foreclosure process and eliminate blight in Ohio neighborhoods that has national implications has been re-introduced and has passed by a unanimous vote in the Ohio House of Representatives. The post Re-Introduced Ohio Foreclosure Expedition Bill Passes House, Heads for Senate Vote appeared first on DSNews. Via:: Re-Introduced Ohio Foreclosure Expedition Bill …

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Ocwen Adds New Independent Director to Board

By Brian Honea Ocwen Financial Corporation, one of the country’s largest non-bank mortgage servicers, announced the appointment of Alan J. Bowers as a new independent director to the firm’s Board of Directors, according to an announcement from Ocwen. The post Ocwen Adds New Independent Director to Board appeared first on DSNews. Via:: Ocwen Adds New Independent Director to Board       

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DS News Webcast: Thursday 5/28/2015

By Jordan Funderburk Individuals’ optimism regarding future financial prospects increased substantially from 2013 to 2014, while perceptions of current financial well-being improved only modestly, according to a survey conducted by the Federal Reserve released Wednesday. The Fed’s 2014 Survey of Household Economics and Decisionmaking, which was completed by about 5,800 individuals last fall, found that 65 percent of adult respondents …

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Legislation, Not FHFA’s Administrative Actions, Should Drive Housing Policy, Analyst Says

By Brian Honea Holtz-Eakin, former director of the Congressional Budget Office, wrote on the American Action Forum’s blog, “The Daily Dish,” earlier this week that logic would dictate large reforms to the housing finance system following the crash, yet no such large reform has taken place. The post Legislation, Not FHFA’s Administrative Actions, Should Drive Housing Policy, Analyst Says appeared …

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