Switzerland's largest bank UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint.
Servicing and Default News
"Issues related to aggressive growth and insufficient infrastructure have resulted in harm to consumers, have exposed...
The number of nonbank firms servicing mortgages in the United States is growing but the federal agency charged with protecting borrowers has no single list of the companies, even though they can pose major risks to consumers, according to a report.
But the trade in delinquent notes has exploded in the post-financial-crisis world.
As government entities like Fannie Mae and Freddie Mac have struggled with the legacies of the housing bust, they’ve sold billions of dollars’ of delinquent notes to big institutional investors, who resell them in turn.
With depositories continuing to dump servicing rights, can nonbank servicers keep up with the work? CHARLOTTE, NC...
RoundPoint did not make that mistake. We have a stable, compliant platform that will allow for our growth. As the banks move away from this business, as they should given the high cost of their compliance overhead, we are happy to step in.