The use of personal loans is on the rise in the U.S., with about 24 million Americans likely to take out a personal loan in the next 12 months.
Borrowers, mortgage markets, communities, courts and mortgage investors are all victims of loan servicers’ inadequate foreclosure policies and practices. That’s one clear conclusion of a new 15-page report, “Interagency Review of Foreclosure Policies and Practices,” issued by the Federal Reserve, Office of the Comptroller of the Currency and Office of Thrift Supervision, three federal agencies
How home loan servicers should be compensated is a subject of intense debate in the mortgage industry today, as servicers have come under fire for their inaccessibility to homeowners and sloppy foreclosure-processing practices. To fix the problems, the Federal Housing Finance Agency, or FHFA, has told Fannie Mae and Freddie Mac to work on proposals