Nonbanks were the top buyers and sellers of bulk mortgage servicing portfolios last year, according to a tally from affiliate publication Inside Mortgage Trends. [Includes one data chart.]

The Trump administration pulled an about-face on reform of the government-sponsored enterprises, with the White House declaring mid-week that it will work with Congress on a legislative solution to Fannie Mae and Freddie Mac.

The complex business of servicing residential mortgages continued to become more concentrated among a diverse group of industry participants in the fourth quarter of 2018. [Includes two data charts.]

Chicago, IL-based payday lender fined; Sen. Warren presses Wells on student account fee; Kraninger’s listening tour update.

The CFPB last week fined a broker $1 for bilking veterans out of their pensions. It is the third enforcement action this month by the consumer watchdog, now led by Director Kathy Kraninger.

Sterling Jewelers will pay $11 million in penalties to settle claims that it opened credit accounts without consumer consent.

Republican lawmakers want the CFPB to be led by an independent inspector general appointed by the president.

CFPB Director Kathy Kraninger assured Republican senators that the CFPB will examine industry concerns regarding the integrated mortgage disclosure rule.

Chris D’Angelo, associate director of the supervision and enforcement division at the CFPB, is departing. In February, he will join the New York attorney general’s office as chief deputy attorney general for economic justice.

The CFPB is seeking a legislative fix to give it clear authority to supervise institutions to ensure compliance with the Military Lending Act.