Subservicing behemoth Cenlar has caught the attention of the OCC, which slapped the loan processor with a consent order because of its risk management shortcomings. On the menu: corrective actions.
While many lenders are already originating mortgages using replacements for LIBOR, many legacy ARMs remain linked to the London benchmark, according to an analysis by Inside Mortgage Finance.
In mid-October, the CFPB registered its one millionth credit reporting-related grievance since the inception of its consumer complaint database in 2011.