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Wednesday, February 16, 2011

Two more stories on Mortgage Servicer Enforcement Action

by Calculated Risk on 2/16/2011 09:44:00 PM

• From Nick Timiraos, Victoria McGrane and Ruth Simon at the WSJ: Big Banks Face Fines on Role of Servicers

The penalties ... could include fines and changes in how the companies operate ... some banks could be notified within days of the enforcement action being taken against them ...

The OCC conducted a separate investigation of the Mortgage Electronic Registration Systems ... and it isn't clear when it will be finished ...
• From Diana Olick at CNBC: Enforcement Action Coming Against Loan Servicers

Earlier today:
Housing Starts increase in January (graphs)
Industrial Production, Capacity Utilization decrease slightly in January (graphs)
MBA: Mortgage Purchase Application activity decreases (graph)
Multi-family Housing Starts and Completions (graphs)
Lawler: Early Read on January Existing Home Sales