Shuttered businesses and missed paychecks are causing panic across the mortgage industry as the coronavirus cripples finances for struggling homeowners. “It’s going to be a liquidity tsunami,” Jay Bray, chief executive of Mr. Cooper Group Inc., told the Wall Street Journal (WSJ) on Monday (March...
April 24, 2024
America’s consumer finance watchdog is targeting “junk fees” in the mortgage industry. The Consumer Financial Protection Bureau (CFPB) published findings Wednesday (April 24) showing that mortgage servicers — the companies responsible for processing mortgage payments — had charged illegal fees, sent deceptive notices to homeowners and violated loss mitigation rules that help struggling borrowers keep their homes. “Homeowners cannot just simply […]
March 24, 2020
Shuttered businesses and missed paychecks are causing panic across the mortgage industry as the coronavirus cripples finances for struggling homeowners. “It’s going to be a liquidity tsunami,” Jay Bray, chief...
