Low staff levels make it difficult for the CFPB to conduct follow-up monitoring of previous enforcement actions, according to the bureau’s Office of Inspector General.
The Sword of Damocles hung over his head during his last year at the helm of the bureau, former CFPB Director Richard Cordray disclosed in his new book.
Straight talk from Impac CEO George Mangiaracina: “These are extraordinary times with unprecedented interest rate shocks and global market dislocation so any enthusiasm for future prospects should be properly balanced and tempered by potential supply and distribution constraints..."
Thanks to the spread of the coronavirus, markets became unglued this week as stock prices plummeted. Meanwhile, Treasury yields fell while mortgage rates actually increased. Confused? Welcome to the club.
Coronavirus-related risks for certain industries represent a significant danger to the U.S. collateralized loan obligations market, but diversification and liquidity buffers may help absorb the immediate impact.
Subservicing vendors continued to make gains in the fourth quarter as the appetite for outsourcing grew. In short, some MSR owners just don’t want to deal with the hassle of loan processing and regulations. (Includes data chart.)
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