Top compliance attorneys warn that multiple state attorneys general will follow through on their vow to step up more aggressively to counteract any lessening of enforcement zeal at the Consumer Financial Protection Bureau under the new command of Acting Director Mark Mulvaney. During a webinar this week sponsored by Inside Mortgage Finance, Melanie Brody, a partner with the Mayer Brown law firm in Washington, DC, elaborated on that view. “I think it’s really important for ...

A data breach involving United Shore Financial Services and Xerox has prompted a class-action lawsuit from borrowers and a legal battle between the lender and the loan document software vendor. United Shore is the parent company of United Wholesale Mortgage, a major player in the wholesale channel. In 2011, United Shore was using BlitzDocs to process and store loan documents. At the time, the software program was operated by Xerox Mortgage Services. Al Leibovic, a borrower, filed ...

Authoritative numbers on the size of the non-QM space are difficult to come by.

Watt and his staff do not want taxpayers to foot the bill for failing mortgage guarantors…

The first RFI from the CFPB will be on Civil Investigative Demands, which are issued during an enforcement investigation.

The recently enacted Tax Cuts and Jobs Act was pitched as a simplification of the tax code. And while the bill could ultimately reduce some tax-related complexities, lenders are facing sweeping changes this year.

The House Financial Services Committee this week was advancing more than a dozen and a half regulatory relief measures as Inside Mortgage Finance was going to press, including some mortgage-related legislation that would expand the qualified-mortgage box for smaller entities and exempt many institutions from the rules and regulations issued by the Consumer Financial Protection Bureau.

The game-changing ability-to-repay mortgage lending rule from the Consumer Financial Protec-tion Bureau took effect four years ago this month. At that time, regulators said there would be plenty of mortgage lending outside the parameters of the qualified-mortgage box. So far, however, that ex-pectation has yet to be realized.

The Federal Reserve Board last week wrapped up enforcement actions against 10 banks and im-posed fines against five of them after “sustainable improvements” in their servicing operations.

If a GSE reform bill does not get signed into law this year, how much longer will the CEOs of Fannie Mae and Freddie Mac stick around?