Investors in Commercial Mortgage Backed Securities Nervous About Sharp Tactics of Special Servicers

Investors in Commercial Mortgage Backed Securities (CMBS) are objecting to the aggressiveness of special servicers.  Special servicers are transferred servicing rights to loans that are already in default.  These complaints were obliquely mentioned in a recent Fitch Ratings press release. Apparently, just as with Residential Mortgage Backed Securities (RMBS), special servicers may be acting abusively […]

CFPB Hated By Bankers and Beloved by Consumers

The Consumer Financial Protection Bureau (CFPB) is definitely the new kid on the  block, as far as regulators go.  It has some pretty powerful enemies, including the predictable Goldman-Sachs-JPMorganChase-Citibank-BankofAmerica-Wells-Fargo of the too-big-to-fail/too-big-to-jail swagger. When the foreclosure crisis was starting, circa 2008 and 2009, causing apocalyptic shock waves in my state, Arizona, among many others, I […]