The authors noted that appraisals associated with management companies may be more prone to contract price confirmation and super-overvaluation.

In his preamble to the Congressional report, Mulvaney sums it up best, saying "many” members of Congress “disagree with my actions as Acting Director…”

Cowen & Co. recently updated its forecast on GSE reform passing this year, slashing the odds to just 10 percent.

The idea is to offer “a space where businesses can test innovative products and processes without risk of regulatory consequences,” according to the Mortgage Bankers Association…

Meanwhile, the servicing sector appears to be picking up a head of steam...

Congressional lawmakers are seeking ways to ease restrictions on payday loans and rescue the industry from what some lenders feel are onerous CFPB rules promulgated under past agency leadership. Sen. Lindsey Graham, R-SC, introduced a Congressional Review Act resolution to repeal the agency’s payday rule, and the House Financial Services Committee gave a green light to bank payday lending. The CFPB finalized its payday rule in October under former Director Richard Cordray with ...

After losing ground in a Real Estate Settlement Procedures Act interpretation in the PHH case, the CFPB lost the motion for reconsideration in another RESPA case, which carries further implications for the industry, attorneys said. The U.S. District Court for the Western District of Kentucky denied the CFPB’s motion to reconsider a decision in favor of Kentucky law firm Borders & Borders over allegations it illegally paid kickbacks under the RESPA statute. The significance of the case lies in the fact ...

House Financial Services Committee Chairman Jeb Hensarling, R-TX, has renewed his call for the Senate to negotiate with the House regarding several bills Republicans want to add to the regulatory relief package. The Senate earlier cleared S. 2155, which would roll back various parts of the Dodd-Frank Act and give relief to community banks, sending it to the House. But the GOP faithful in the House have their own bucket list of relief bills and want the Senate to negotiate with the goal of creating a final ...

The CFPB released its seventh annual debt collection report, signaling further coordination with the Federal Trade Commission to take an active approach in combating illegal practices by industry players. The CFPB shares enforcement responsibilities with the FTC under the Fair Debt Collection Practices Act. Acting Director Mick Mulvaney has said that roughly one-third of the consumer complaints received last year were tied to debt collection, which suggests where priorities should be set ...

Equifax, which is under investigation by the CFPB – and other government agencies – for a massive data breach that came to light last year, this week named investment banker Mark Begor to be its new CEO effective April 16. He will replace interim CEO Paulino do Rego Barros, who will step down but assist Begor as part of the transition. Back in the fall of last year, Barros was named interim CEO following the departure of several top executives at the credit rating agency after it was revealed a major ...