CFPB's Mulvaney: “If the CFPB loses a court case because we pushed too hard, we simply move on to the next matter. But where do those that we have charged go to get their time, their money, or their good names back?”
“Both sides have gotten to know each other very well, so the intangibles and cultural fit are expected to be very strong,” said investment banker Mark Stafford of MS Capital Advisors.
Flagstar's serviced-for-others portfolio increased to 442,000 loans from 415,000 in 3Q17, but a large chunk of that represents subservicing arrangements.
The House Financial Services Committee last week advanced a number of bills for a vote by the full House, including legislation that would expand the qualified mortgage box for smaller entities and exempt many institutions from the rules and regulations issued by the CFPB. One of the bills passed was H.R. 2226, the Portfolio Lending and Mortgage Access Act, introduced by Rep. Andy Barr, R-KY. The measure would amend the Truth in Lending Act to allow certain mortgage loans that are originated and retained in portfolio by an insured depository institution or an insured credit union with less than $10 billion in total consolidated assets to be considered as qualified mortgages. Then there was H.R. 1264, the Community Financial Institution ...
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