The FHFA noted that if another credit scoring model is introduced, the entire mortgage finance industry will incur increased operation and transition costs…
State regulators are increasingly requiring investors in mortgage servicing rights to get servicer li-censes even if they don’t perform any loan administration functions, according to industry lawyers.
The U.S. Court of Appeals for the Seventh Circuit has joined four other circuits in raising the bar for arguing government cases under the federal False Claims Act, potentially making it harder for the government or whistleblowers to pursue such claims against FHA lenders.
New York financial services regulators have ordered PHH Mortgage to pay $119,000 in penalties for failing to maintain a vacant and abandoned property in violation of state’s “zombie” foreclosure law.
Washington Analysis believes the FHFA/Treasury move is a “clear positive for shareholders in the GSEs, particularly holders of junior preferred shares..."
Marc Savitt, who runs The Mortgage Center, Martinsburg, WV, called the technology snafu a “big deal,” adding: “It’s taking weeks to receive we got in days.”
The legal wheels continue to turn in the personal efforts of CFPB Deputy Director Leandra English to overturn President Trump’s appointment of Office of Management and Budget Director Mick Mulvaney to serve simultaneously as acting director of the bureau. More activity is slated this week before Judge Timothy Kelly, whom Trump appointed to the U.S. District Court for the District of Columbia Circuit earlier this year. Additional legal briefs are due and a hearing has been scheduled. Despite losing in her bid for a temporary restraining order, English has since filed for a preliminary injunction to prevent defendants Trump and Mulvaney from “appointing, causing the appointment of, or recognizing the appointment of an acting director of the Consumer Financial Protection ...
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