Consumers complained to the CFPB about debt collection issues at a substantially reduced level during the fourth quarter of 2015, according to a new analysis and ranking by Inside the CFPB. During the period ending Dec. 31, 2015, consumer gripes were down 27.5 percent versus the previous quarter.Among the top 50 companies as ranked by consumer criticisms, 45 saw a double-digit percentage decline. Year over year, the story is less inspirational, with consumer kvetching down a mere 0.6 percent. Six companies saw complaints leap by triple digit percentages. To put some anecdotal flesh on these empirical bones, in the CFPB’s most recent supervisory highlights report, the bureau pointed out that during its examination of at least one debt collector, ...
The False Claims Act could potentially apply to Fannie Mae and Freddie Mac loans in the future, thanks to increased GSE cases and a broadened claim definition. The risk of the Department of Justice applying the FCA to GSE loans may seem remote, said Andrew Schilling, partner with BuckleySander LLP, but he isn’t counting it out. …
Commercial banks and savings institutions continued their buying spree in the MBS market during the fourth quarter of 2015, according to a new ranking and analysis by Inside MBS & ABS. Banks and thrifts held a record $1.644 trillion of residential MBS in their available-for-sale and held-to-maturity portfolios as of the end of last year. That was up 2.2 percent from the third quarter and represented a 6.8 percent gain over 12 months. All of the increase came...[Includes two data tables]