No secret here: Nonbank mortgage companies are living off their mortgage servicing rights during the industry’s sizable downturn. How much longer can it last? Hard to say, but Fitch has some concerns.
The lender is in talks with the Consumer Financial Protection Bureau to resolve several possible violations in its auto lending, mortgage lending and consumer deposit programs. Wells already holds the record for the highest fine issued in connection with a CFPB enforcement action.
After years of court maneuvers, the most prominent of the Fannie Mae/Freddie Mac shareholder lawsuits finally went to trial. Now it’s in the hands of a jury.
In what is likely to be the last legal wranglings in Fairholme v. FHFA before its long-awaited jury trial begins, Judge Lamberth dealt Fannie/Freddie shareholders a modest defeat.
The CFPB’s 2020 rule, exempting some institutions from Home Mortgage Disclosure Act reporting, was found to be arbitrary and capricious by the D.C. District Court.