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.

Other servicing brokers are still assessing market conditions with some rate watchers like Barry Habib cautioning against a “head fake” on where things may wind up.

Americans spend an average of 6 hours per day on social and mobile media, which has taken over television viewing.

In the refinance market, the share of loans falling into the low-score/high LTV group was 2.57 percent, down from 2.86 percent in the second quarter...

KBRA said the borrowers have strong credit profiles, significant home equity, and a weighted-average credit score of 760.

Vendor Provides TRID-Oriented Video Content. Fast Forward Stories, a Bellingham, WA, provider of “brand-able” video content for the mortgage, title and real estate industries, recently released a download-ready library of 26 mortgage explainer videos on the CFPB’s Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure Rule (TRID).... ICYMI: Here’s What Happens to Fines, Penalties Levied by the CFPB. A new report from the Government Accountability Office summarizes what happens to the fines and penalties the CFPB imposes on financial institutions for mortgage-related offenses, as follows ...

The recent decision by the U.S. Court of Appeals for the District of Columbia Circuit in the dispute between the CFPB and PHH Corp. has some significant enforcement implications for the bureau, according to a top compliance attorney. At stake in particular is the bureau’s authority to enforce federal consumer financial protection laws as well as the Consumer Financial Protection Act (CFPA) prohibition of unfair, deceptive, or abusive acts or practices (UDAAP). In a recent client note, Barbara Mishkin, of counsel in the Philadelphia office of the Ballard Spahr law firm, noted that among the court’s findings was that the Real Estate Settlement Procedures Act’s three-year statute of limitations (SOL) applies to the agency’s administrative enforcement actions. “Not only did ...

The CFPB’s latest supervisory highlights report provides some Home Mortgage Disclosure Act data collection and reporting reminders for 2017. For starters, beginning with HMDA data collected in 2017 and submitted in 2018, responsibility to receive and process HMDA data will transfer from the Federal Reserve Board to the CFPB. “The HMDA agencies have agreed that a covered institution filing HMDA data collected in or after 2017 with the CFPB will be deemed to have submitted the HMDA data to the appropriate federal agency,” the bureau stated. (The HMDA agencies are the CFPB, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., the Fed, the National Credit Union Administration, and the Department of Housing and Urban Development.) ...

The CFPB has issued an amendment to its guidance on service providers, clarifying that mortgage lenders have a degree of flexibility in deciding the appropriate course of action for managing their risk. In its revised bulletin, the bureau began by noting that it “recognizes that the use of service providers is often an appropriate business decision for supervised banks and nonbanks. “Supervised banks and nonbanks may outsource certain functions to service providers due to resource constraints, use service providers to develop and market additional products or services, or rely on expertise from service providers that would not otherwise be available without significant investment,” it added. However, the mere fact that a supervised bank or nonbank enters into a business relationship ...