The Senate late last week narrowly confirmed Kathy Kraninger as director of the Consumer Financial Protection Bureau. In her first public remarks, the new director set a more moderate tone for the watchdog agency than recently departed acting Director Mick Mulvaney did during his tenure.
A California court last month dismissed a borrower’s attempt to bring a class-action lawsuit against Caliber Home Loans over a security breach at the nonbank lender in early 2017.
Mortgage servicers are waiting anxiously for a U.S. Supreme Court ruling on whether the Fair Debt Collection Practices Act applies to non-judicial foreclosures.
The White House this week finally made up its mind on a new regulator for the government-sponsored enterprises, picking conservative economist Mark Calabria to head the Federal Housing Finance Agency. Now comes the hard part: Getting the Senate to hold confirmation hearings and actually approve him.
The complaint further alleges that company executives have been aware of the poor EPD rates since 2011 but apparently did nothing to resolve the problem.
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