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Wells Fargo sells servicing rights on 184,000 loans

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Mortgage Professional America | 23 Jan 2014, 08:15 AM Agree 0
Wells Fargo joins other big banks in backing away from the servicing market
  • being human | | 23 Jan 2014, 09:05 AM Agree 0
    They are selkling the rights to the bad mortgages. They should get the story straight. Ocwen only takes mortgages that are late and need to be foreclosed on. There should be a rule saying the lender can't sell mortgages that are in default.
  • tj | | 23 Jan 2014, 09:30 AM Agree 0
    I agree
  • Michael H | | 23 Jan 2014, 12:04 PM Agree 0
    Ocwen is a foreclosure machine, not a very efficient one but a machine none the less.
  • Kent S | | 23 Jan 2014, 01:24 PM Agree 0
    Think about anything you say that starts with "There should be a rule..." Yes, there should be a get the government out of the lending business. They are the ones responsible for the entire mortgage meltdown because of their insistence on who MUST get mortgages based on non-financial reasons. Government does not do business well...or much of anything else.
  • Dennis J. Loput Sr. | | 24 Jan 2014, 01:35 AM Agree 0
    You can predict the future by reading and understanding the legislature in the Frank-Todd Act. 600 new regs are heading our way in 2014. We need to repeal this onerus bill that punishes the mortgage industry for implementing the very "rule of law" that was thrust upon the industry.

    The fitting analogy is "use more coal" then when the political winds blow in another direction they institute regs against coal and then blame the coal miners.

    The polticians are covering their ass in this one - Big time!
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