Nation Jul 31

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Mortgage servicers go to extreme lengths to skirt new regulations

They are selling or have sold nearly nonexistent insurance agencies — in some cases with no offices, no websites and only a single registered agent — in multi-million dollar deals, as new rules prohibit them from collecting commissions on insurance…

Question: Banks like Wells Fargo and JP Morgan recently announced better-than-expected profits. The given reason is that they are making money on the refinancing of mortgages. Doesn’t mortgage refinancing imply lower rates of interest and repayment? How can they be…

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