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Volume 25 - Number 5

March 3, 2014

CFPB Plans Enforcement Action Against Green Tree Servicing

In another sign of how serious the CFPB intends to be in pursuing alleged mortgage servicing abuses, the bureau is planning to take an enforcement action against Green Tree Servicing LLC, a wholly owned subsidiary of Walter Investment Management Corp., for alleged violations of federal consumer financial laws."On Feb. 20, 2014, the Federal Trade Commission and CFPB staff advised Green Tree that it has sought authority to bring an enforcement action and negotiate a resolution related to alleged violations of various federal consumer financial laws," the parent company said last week in earnings-related disclosures with the Securities and Exchange Commission.

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HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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