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Court Finds Servicers are Subject to California Escrow Rules, More Preemption Battles Likely

March 22, 2018
An appeals court ruling this month against Bank of America regarding compliance with a state law on escrow accounts has broad implications for banks that rely on federal preemption of state laws, according to industry attorneys.
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House Regulatory Relief Goals Could Stall Bipartisan Package Approved by the Senate

March 22, 2018
The Senate bill to roll back various parts of the Dodd-Frank Act has been stalled in the House, where leading Republicans have asked for additional provisions that would further relax regulations.
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DC Circuit Court Ruling Narrows FCC’s 2015 Order Restricting Use of Cell Phones to Contact Consumers

March 22, 2018
A Washington, DC, appellate court recently overturned a Federal Communications Commission ruling that restricted the use of “autodialers,” including cell phones, to communicate with consumers.
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Freddie Mac Has First Nonperforming Loan Sale of 2018

March 22, 2018
Carisa Chappell
Freddie Mac announced its first non-performing loan sale of the year this week.
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Study Shows Borrower Counseling Spurs Buyers to be More Vigilant

March 22, 2018
Carisa Chappell
Consumers who take part in homebuyer education and counseling classes are more satisfied with the mortgage process.
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Former CEO of Payday Lender Wants to Run the CFPB

March 22, 2018
Yemeng Yang
Former World Acceptance Corp. CEO Janet Lewis Matricciani wants to apply for the position of CFPB director .
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Ginnie, Freddie Drive Growth in Agency Servicing During 2017, Nonbank Footprint Still Expanding

March 22, 2018
The mortgage servicing business racked up its third consecutive year of steady growth in 2017, following seven years of erosion, according to a new Inside Mortgage Finance analysis and ranking.
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Many ARM Originations Still Linked to LIBOR Even though Benchmark Might End After 2021

March 22, 2018
The potential end of publication of the London Inter-Bank Offered Rate hasn’t yet prompted a significant shift by lenders. Many new originations of adjustable-rate mortgages continue to be linked to LIBOR as industry participants determine how to respond to the potential demise of the index.
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Ginnie and Freddie Drive Agency Servicing Increases in 2017, Nonbanks Expanding

March 22, 2018
John Bancroft
The mortgage servicing business racked up its third consecutive year of steady growth in 2017.
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UBS Reaches $230 Million Settlement with New York on Issues with Pre-Crisis Non-Agency MBS

March 22, 2018
Brandon Ivey
UBS agreed to a $230.0 million settlement on Wednesday with the New York attorney general to resolve issues with pre-crisis non-agency mortgage-backed securities.
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