MBA chief Stevens said he and a “certain group of individuals” met with the HUD secretary last Friday to discuss the topic.

The CFPB alleged that expense accounts were really “point banks” and that payments in the form of bonuses and commissions were based on mortgage profitability...

The Texas Republican blamed the CFPB and DFA for raising prices and “cutting off" access to mortgages…

While nonbanks have taken a much bigger share of the servicing market, the top-ranked subservicer is Cenlar, a New Jersey-based savings bank.

One industry observer saw the development as indicative of growing nervousness that the CFPB may be putting its Democrat allies on Capitol Hill in an awkward position...

“We’ve found all kinds of different violations,” said CFPB Assistant Director for Supervision Policy Peggy Twohig.

The CHLA suggests, among other things, that the U.S. Treasury stop sweeping all GSE profits and instead put that money in a capitalization reserve account...

Standard & Poor’s has removed Ocwen Financial form its “CreditWatch” list.

The Securities and Exchange Commission dropped its civil fraud case against Thomas Lund, former executive vice president of Fannie Mae’s single-family business in the years leading up to conservatorship. The discontinuance of the case was announced this week by Lund’s attorney Michael Levy of Paul Hastings. “Thomas Lund has been vindicated,” he said. “After investigating for three years, litigating for another three years, deposing 50 witnesses and hiring four experts, the SEC concedes that it has not prevailed,” he said, adding that Lund will refrain, for 12 months, from signing things that he never signed in the past and has no intention of signing in the future. Lund will pay the agency $10,000. However, the SEC is classifying the payment as a “gift” to the...

MBA chief Dave Stevens noted: “We’ve seen that before, when enforcement does replace regulation, and that’s our greatest concern.”