June 12, 2024

Reverse mortgage consumer complaints decline on a yearly basis: CFPB

June 12, 2024 mpsingh No Comments Real estate basis, Celink, CFPB, complaints, Consumer, decline, Finance of America, Mortgage, Ocwen Financial Corporation, Onity Group, Reverse, yearly

There were a total of 131 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) between Jan. 1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the bureau. This was 52 fewer complaints compared to the same period in 2023. Of these [...]read moreReverse mortgage consumer complaints decline on a yearly basis: CFPB

Under stress, loanDepot ‘buys time’ with plan to extend $500M debt

The firm previously offered to exchange $850 in principal amount for new notes and $250 in cash for each $1,000 in principal amount for old notes, but it’s now offering “a mixed consideration of $1,100 in cash and principal amount of new notes for each $1,000 principal amount of old notes,” according to an 8-K [...]read more