Nine senators said they would work to invalidate any new rules issued by the CFPB if Leandra English prevails in her attempts to unseat and replace the bureau’s acting director, Mick Mulvaney...
The Federal Communications Commission is seeking feedback on a petition filed by the Federal Housing Finance Agency regarding the ability of mortgage servicers to contact borrowers in natural disaster areas.The FHFA petition is in reference to stipulations based on the Telephone Consumer Protection Act. With three major hurricanes this fall, the FHFA said there’s a need for mortgage servicers to quickly contact borrowers whether by voice or automated messages. The agency filed the petition in hopes of getting a speedy response to two requests. The Fannie Mae and Freddie Mac regulator wants the FCC to declare that borrowers who are affected by disasters are considered to have given their consent to receive calls from their mortgage servicers.
Some servicers in recent years have tapped the securitization market to help finance the purchase of mortgage servicing rights. Structures for deals from three nonbanks have varied significantly, ac-cording to an analysis by Moody’s Investors Service.
Mick Mulvaney has been in charge of the CFPB all week and we’ve yet to hear one prediction that subprime mortgage lending will revive with a vengeance…
According to figures compiled for the National Mortgage Database and analyzed by Inside Mortgage Trends, for much of the past decade there has been a saw-tooth pattern that finds late payments begin increasing in November of each year before peaking in January.
Mulvaney’s ascension has raised expectations the bureau will alter its legal positions in high-profile cases such as those involving Ocwen Financial and PHH…
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