Republicans also will try to subject the CFPB’s budget to the congressional appropriations process.

Ocwen officials said the sale of agency receivables has the potential to free-up more than $1.7 billion of capital for the company.

Meanwhile, stock analysts who were once bullish on Ocwen are now taking out their knives, downgrading or slamming the once high-flying company.

Associates of Erbey told IMFnews that he knew several weeks ago that he would be stepping down from the company and viewed himself as a sacrificial lamb of sorts…

But Erbey's resignation may not be enough for analysts and investors who have seen the value of Ocwen’s stock plummet the past year.

Lenders that have considered taping their interactions with borrowers said the recordings can help prevent “he said/she said” situations.

One analyst, Farukh Farooqi of Marquis Research, told IMFnews that Ocwen’s board should consider dumping CEO Ron Faris. “I mean where does the buck stop?” Farooqi said.

Skyline said it raised $18 million in equity and debt from Ellington along with Upfront Ventures and Dallas Capital Management.

Conversations with Capitol Hill insiders, industry lobbyists and trade group representatives suggest the CFPB is going to face a double-barreled threat from a Republican-controlled U.S. Senate and House of Representatives in the 114th Congress that convenes in January. On the one hand, the GOP is expected to be aggressive in holding numerous oversight hearings on a number of issues having to do with the CFPB. On the other hand, Republicans also are likely to push multiple pieces of legislation relating to the bureau and its rulemaking. A number of tweaks, revisions and technical corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act are expected as well. Elaborating on the legislative front, Joe Pigg, vice president and senior counsel ...

The CFPB sued Sprint Corp. last week for allegedly billing wireless customers tens of millions of dollars in unauthorized third-party charges from 2004 to 2013. The issue here involves charges for what are known as “premium text messages” or “premium short messaging services” because they are frequently delivered by text messages. Examples of such products and services include ringtones, wallpaper images, and text messaging providing flirting tips, horoscopes, and other digital content. Some third-party goods were sold with one-time charges, costing about $0.99 to $4.99, according to the bureau’s complaint. Often, they were monthly subscriptions that cost about $9.99 a month. Most consumers were targeted online, according to the CFPB. Consumers clicked on ads that brought them to websites asking ...