Further, the lawmakers’ motion is untimely and fails to meet the standard for intervention, the lender argues in its filing.

In many cases, the fourth quarter drop was due to poor performance on servicing hedges.

Fairholme: “Only the disingenuous would assert that recapitalization of these companies would take decades and come at taxpayers’ expense…”

The CFPB also took action against two realty firms: ReMax Gold Coast and Keller Williams Mid-Willamette...

Tom Hutchens of AOMS, said “a lot” of his optimism about higher nonprime origination volumes for 2017 is tied to securitization. “This is now a liquid market,” he said.

The nomination of investment banker Steven Mnuchin to head the Treasury Department moved forward Wednesday...

The company’s motion arises in an unusual procedural context…

The trade group’s blueprint also throws cold water on any piecemeal “recap and release” plan for Fannie and Freddie.

"The legal challenges [to firing Cordray] must be very legitimate or they would have tossed him by now," said one industry official...

Late last week, PHH Corp. followed up on the opportunity afforded it by the U.S. Court of Appeals for the District of Columbia Circuit and filed its legal response to the arguments the Department of Justice made late last year in defense of the CFPB’s petition for an en banc rehearing in its dispute with the mortgage lender.The DOJ’s brief “asserts support for rehearing en banc, but not for any of the reasons advanced by the CFPB,” PHH said. “Indeed, the brief never actually defends the CFPB’s structure as consistent with the Constitution. Nor does the brief claim anywhere that the panel erred in its choice of remedy, its decision to reach the separation-of-powers issue, or its discussion of ...