The CFPB issued two more requests for information – one on rulemaking processes, another covering adopted regulations and new rulemaking authorities – as a part of Acting Director Mick Mulvaney’s “call for evidence.” The bureau first solicited feedback on its rulemaking processes, including initial outreach and information gathering, notices of proposed rulemaking and final rules.For initial outreach and information gathering, the CFPB asked for comments on methods to gather ...
Promontory MortgagePath Snags Former Top CFPB Attorney to Head Compliance Department. Promontory MortgagePath on Tuesday named former federal regulator Colgate Selden chief compliance officer. Selden comes to the vendor from the Alston & Bird law firm, but before that was senior counsel in the office of regulations at the Consumer Financial Protection Bureau ... [Include one brief]
Efforts to enhance disclosures on MBS and ABS in recent years have generated mixed results, according to industry participants. Inadequate disclosures helped contribute to the financial crisis, according to investors that suffered significant losses on MBS and ABS.
A New York bankruptcy judge has ordered the bankruptcy estate of Lehman Brothers Holdings to pay $2.38 billion to cover legacy residential MBS claims filed by trustees in 2008.
Hensarling is chairman of the House Financial Services Committee, which means any Fannie Mae/Freddie Mac reform bill must first go through his panel, whether he’s the author or not.
Approvals by state regulators and federal agencies of mortgage-related mergers and acquisitions can drag on for a variety of reasons, but lenders and servicers can help speed the process by providing detailed disclosures, according to industry attorneys. Keisha Whitehall Wolfe, counsel at the law firm of Mayer Brown, suggested providing regulators with details about what is changing at a company due to pending M&A activity and what isn’t changing. She suggested providing a ...
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