Foreclosure filings in the U.S. will reach a record for the second consecutive year, with 3.9 million notices sent this year to homeowners in default, RealtyTrac Inc. said.
This year's filings will surpass 2008's total of 3.2 million as high unemployment and price erosion batter the housing market, the Irvine, Calif., company said.
Foreclosure filings exceeded 300,000 for the ninth straight month in November, RealtyTrac said Thursday.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
