The Consumer Financial Protection Bureau (CFPB) issued an order against Elkhorn, Nebraska-headquartered ACI Worldwide (NASDAQ:ACIW) and its subsidiary ACI Payments for improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions....
Geneva Financial, a Chandler, Arizona-based direct mortgage lender operating in 47 states, has launched an in-house portfolio lending division. Starting with $55 million in managed funds, the new division will be a financing partner for Geneva Financial loan officers...
The U.S. mortgage delinquency rate dropped by 11 basis points in May to 3.10%, according to new data from Black Knight Inc. (NYSE:BKI). This is the second lowest that the rate has ever been – the record low is 2.92% from last March. The number of borrowers who were a...
CrossCountry Mortgage (CCM) has unveiled CCM Smart, a program designed to help first-time homebuyers cover 2% of down payment costs up to $4,000. Under CCM Smart, at least one occupying borrower must be a first-time homebuyer and must be at or below 80% of the County...
Meriden, Connecticut-headquartered Planet Home Lending LLC announced a $10 billion bulk acquisition of mortgage servicing rights (MSR) from Village Capital & Investment LLC of Henderson, Nevada. The Village portfolio consists of 45,000 home loans securitized by...
Freddie Mac (OTCQB: FMCC) reported another decline in mortgage rates in the newly published Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 6.67% as of June 22, down from last week when it averaged 6.69%. A year ago at this time, it averaged...
