It’s safe to say that many mortgage CEOs and their attorneys are cheering on Quicken. It’s not often that a lender fights back this strong against the government in an FHA.
Rising interest rates – as long as they don’t rise too much – could spark a boom in servicing sales, predicted Tom Piercy of Incenter Mortgage Advisors.
-“While plaintiffs did not begrudge defendant a reasonable time to review the court’s decision, it is apparent that the defendant has now settled on a legal strategy but is unwilling to disclose that strategy to the extent doing so would require it to produce documents prior to the D.C. Circuit’s anticipated ruling,” Fairholme argued in court papers.
Last week’s surprise presidential victory by Republican billionaire real estate developer Donald Trump means some big changes for rulemaking and enforcement activities at the CFPB, to the benefit of the financial services industry, according to the consensus of a variety of analysts and experts. The most likely changes have to do with replacing the bureau’s single director leadership structure a bipartisan commission, and subjecting the agency to the congressional appropriations process. But the tenure of the current director, Richard Cordray, also could come into play, some feel. FBR & Co. analyst Edward Mills and his team predict the agency will have a new director “following the D.C. Circuit Court of Appeals ruling [involving PHH Corp.] that allows the president to ...
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