Bureau Plans to Expand Credit Card Data Collection August 29, 2022 Sam Manas The CFPB is seeking feedback on its plan to revamp the process through which it collects information from credit card issuers on their products.Read More
Appeals Court Sides with Servicer in ‘Arbitrability’ Dispute August 29, 2022 Sam Manas An appeals court recently held that if an agreement’s provisions delegate all disputes to an arbitrator, then claims under the Dodd-Frank Act over the agreement’s enforceability should not be considered by that arbitrator.Read More
CA Bill Requiring Equity Sales of Foreclosed Properties Shelved August 29, 2022 Sam Manas The legislation would have allowed for foreclosed property auctions only after trustees carried out an equity sale on the property.Read More
Fay Servicing Fined $3.2 Million for Lax Foreclosure Protections August 29, 2022 Sam Manas The Massachusetts Attorney General’s Office settled with the Chicago-based servicer, levying the penalty mostly through principal forgiveness.Read More
Time Running out for Impac, Nonbank Receives Warning Letter from the NYSE August 29, 2022 Paul Muolo Impac is headed by former investment banker George Mangiaracina...Read More
Subservicing Growth Faces Headwinds August 29, 2022 Paul Muolo At June 30, subservicing vendors handled the monthly processing chores on 31.5% of all residential mortgages...Read More
Bank ABS Holdings Decline in 2Q, Led by Consumer Assets August 29, 2022 John Bancroft The slippage reflected both declines in the market value of ABS as well as a modest trimming of assets.Read More
FHFA Targets 'Cloud' Storage for Prospective GSE Executives August 29, 2022 Dennis Hollier The findings from any criminal background checks would be included too...Read More
Short Takes: More Bitter Tea Leaves for Home Values / About That 2023 Rate-Cut Scenario… / Student Debt Relief and Home Buying / ICE: Not Done Buying? August 29, 2022 Paul Muolo A mixed stew: The Fed, rates and home prices...Read More
FHLBank Profits, Advances Surge in Second Quarter August 26, 2022 Dennis Hollier An increase in member borrowing contributes to a $105 million increase in profits for the FHLB system. (Includes three data charts.)Read More