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Loancare can’t shake allegations that it mishandled borrowers’ mortgage prepayments, after a federal appeals court gave new life to a longstanding class action complaint. Processing Content The servicer will have to relitigate claims that it delayed customers’ prepayments toward unpaid principal balances in order to accrue unearned interest. Three justices of the 4th Circuit U.S. […]

Key insight: A bill offered by Sens. Catherine Cortez Masto, D-Nev., and Todd Young, R-Ind., would allow Federal Home Loan bank members to set up tax-exempt bonds for community development projects, much the same way they already do for housing projects.  Expert quote: “For too long, communities across the country have had a hard time

Oregon’s Willamette Valley Bank announced it is exiting mortgage lending, pointing to challenges facing small institutions and macroeconomic concerns behind its decision.  Processing Content The community bank, based in Salem, Oregon, will formally end residential lending operations on March 31. Along with four full-service branches across the state, Willamette Valley also runs five designated home