Cenlar, the largest subservicer in the mortgage industry, has been on a middle- and senior-manager hiring spree the past 18 months as it tries to meet the demands of an OCC consent order filed two-plus years ago.
Consumer Financial Protection Bureau Director Rohit Chopra recently advocated for a Community Reinvestment Act-like regime for nonbanks at the state level. Trade groups reiterated their opposition to such a move.
A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.
Federal banking regulators issued a final rule updating the Community Reinvestment Act regulatory framework. Most of its provisions will become applicable on Jan. 1, 2026, or later.
The Consumer Financial Protection Bureau floats a rule that would require financial institutions to make certain transaction and account information available to consumers and authorized third parties.
Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.