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September 16, 2016

Goldman Sachs is meeting its consumer relief requirements as part of its $5 billion settlement reached in April over toxic mortgage bonds, a new report from the settlement’s monitor showed. The report, published Friday by Eric Green, who serves as independent monitor of the settlement, showed that Goldman Sachs passed its first round of compliance testing for the consumer relief portion of the settlement.

Ryan Zanin brings over 30 years of experience

September 16, 2016

Fannie Mae brought in experienced veteran Ryan Zanin as its newest member on the board of directors. Here’s more about Zanin, his experience, and his new position on the board.

Megabank already facing inquiry in Senate

September 16, 2016

Another shoe is about to drop on Wells Fargo, as the megabank attempts to weather the storm surrounding the $185 million fine levied against it for the “widespread unlawful” practices of more than 5,000 former employees who opened more than two million fake accounts in order to get sales bonuses. The bank is facing an investigation by the Department of Justice, an inquiry from the Senate Banking Committee, and now an investigation by the House Financial Services Committee.

Took a long break after the financial crisis

September 16, 2016

Impac finally decided to reenter the public equity markets again after a long stint away following the financial crisis. Impac noted in the news that it plans to reach a target goal of $12 billion in origination for the year, giving it a strong platform to grow on.

Offset by decrease in income prospects

September 16, 2016

The University of Michigan’s consumer sentiment index remains unchanged from August. While consumers are more optimistic about their economic expectations, their current conditions are worse off.

Takes to Reddit to get out the word

September 16, 2016

A new post on Reddit from a verified Wells Fargo former employee unveils what was really going on inside the bank. What follows can be best described as HousingWire coverage of a whistleblowing event as it unfolds in real time; It’s a whole new world. So who to believe, the employees, or the executives? Read and decide.

Wants to know why executives got off scot-free

September 16, 2016

Thursday, Sept. 15, 2016 marked the eight-year anniversary of Lehman Brothers declaring bankruptcy, sending shockwaves through the economy and sending the U.S. into a recession. Sen. Elizabeth Warren, D-Mass. used the anniversary of the “failure of the fourth-largest U.S. investment bank” to loudly question again why individuals were not held responsible for the conduct that led to the financial crisis, and this time she did it armed with some disconcerting new information.

CAR: Affordability and inventory tightens

September 16, 2016

Not too long ago, California’s housing market reached a nearly four-year high, but the strong momentum quickly came to a halt in July when sales fell from the previous year for first time in 18 months. Now, according to that latest report August report from the California Association of Realtors, the market is likely to stay down.

Confirms initial rumors

September 16, 2016

Not only did Deutsche Bank AG confirm that the U.S. Department of Justice did request it pay $14 billion to settle a case that dates back to the financial crisis, but it also revealed that it doesn’t plan to pay anywhere near that amount.

28% expect profits to increase in next 3 months

September 16, 2016

Fannie Mae conducted a study showing that lenders’ outlook on their profit potential over the next three months is better than ever. What’s more, those expecting to struggle with compliance costs hit an all-time low.


This month in
Housing Wire magazine

The winners of our Insiders award are people who get things done, who are known throughout their companies as the “go-to” person in their department or division. They provide expertise in areas as diverse as operations, compliance and client services, but also have a reputation for going above and beyond their assigned roles to help out their colleagues, their companies and their clients.


In May of 2016 Airbnb had almost 1.4 listings on the site and raised its revenue projection for this year to more than $900 million. But the site impacts more than just hotel chains. As more investors, not just homeowners, use the site to rent out spare rooms — and even spare couches — it strains the supply of rental houses.


A funny thing happened while the mortgage process became more automated. Rather than reduce human interaction, which some skeptics anticipated, automation technology is in fact having the opposite effect. It is enabling mortgage lending to become a people-first business once again.

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