Fed offers details on additional bank stress test triggered by COVID-19
The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic. ... Read full article
News Topic: Default management
Search Results
Banks prepare for PPP 2.0 onslaught; mortgage lenders struggle with demand
Lenders and small businesses are hoping this round goes more smoothly than the chaotic first one (and if it doesn't, Joe Biden warns, many mom-and-pop shops are done for); originators are adding staff, cutting marketing to handle massive uptick in ... Read full article
Servicers treating government shutdown like a natural disaster
As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages. ... Read full article
Why banks shouldn't make online banking too easy
Rushing to copy the Amazon experience, banks and fintechs are focused on simplifying financial services online. A Georgia Tech researcher says that approach is risky. ... Read full article
PHH Mortgage to pay $45M to settle robosigning allegations by 49 states
PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to ... Read full article
Fannie Mae keeping an eye on servicers' hurricane response
Fannie Mae servicers are facing pressure from the recent hurricanes, but so far are bearing up under the strain. ... Read full article
Laws to fast-track vacant home foreclosures slowly gain traction
Years after the worst of the housing crisis, states still dealing with high foreclosure activity are weighing laws to speed the process on vacant or abandoned properties. ... Read full article