CFPB calls out reverse mortgage servicing problems
As part of its ongoing effort to keep tabs on loan servicers, the Consumer Financial Protection Bureau released a report this week that highlighted problems with the servicing of reverse mortgages. According to the bureau, a recent examination brought to light the fact that some reverse mortgage servicers have issued misleading statements to the heirs of deceased reverse mortgage borrowers.
Wells Fargo CEO Tim Sloan lands million bonus day after congressional beatdown
Looks like Tim Sloan’s week is looking up. On Tuesday, the Wells Fargo CEO received a brutal lashing from Congress during a four-hour hearing before the House Financial Services Committee, during which he was raked over the coals for the bank’s numerous misdeeds. But just a day later, the board of directors gave Sloan a 5% raise, increasing his total pay to a whopping $18.4 million, which includes a $2 million bonus.
Zillow: Rent growth hits a 10-month high in February
While the housing market continues to experience a slowdown in home sales and price appreciation, new data from Zillow suggests the rental market is heating up. But Zillow Economist Jeff Tucker warns this sudden spark could soon go dim.
JPMorgan Chase to add 90 branches this year
A new report from The Wall Street Journal says that JPMorgan Chase is expecting to open 90 branches by the end of this year. The bank is looking to add as many as 700 employees and open locations in cities such as Charlotte, Minneapolis and Nashville as part of its larger plan to enter new markets.
Javelin Strategy & Research tap former HousingWire editor as head of digital lending
Javelin Strategy & Research, a financial services company, recently appointed Austin Kilgore as head of its digital lending practice. The company’s SVP of Research and Head of Fraud & Security Al Pascual said Kilgore’s breadth of knowledge and unique perspective on the intersection of lending, automation and innovation will enable clients to better navigate the nuances of these highly complex industries.