How much do LOs working at call centers earn per deal? We heard that some shops pay as little as 15 to 25 basis points...

In late January, Steven Sugarman, who built the bank into a well-regarded regional lender, resigned as CEO.

The number of mortgage-related examinations by the CFPB declined in most areas with one glaring exception: nonbank residential originators…

However, GSE reform will require a bipartisan effort and already other priorities are developing…

PHH argues the plaintiffs lack legal standing to intervene, their motion is “inexcusably untimely,” and it fails to satisfy the requirements for intervention.

Then again, Trump has been known to surprise people.

Each of the parties that were rebuffed recently in their attempts to intervene in the controversial legal dispute between PHH Corp. and the CFPB decided they wouldn’t take “no” for an answer. Each of them again filed a motion with the U.S. District Court of Appeals for the District of Columbia Circuit seeking permission to intervene in the case, contrary to prevailing appeals court rules. Earlier this month, Democrat attorneys general from 16 states and the District of Columbia submitted a petition for rehearing en banc. Also, Sen. Sherrod Brown, D-OH, and Rep. Maxine Waters, D-CA, submitted a motion for rehearing en banc, as did a handful of public interest, consumer advocacy groups. All seek to inject themselves into the ...

It’s not just the defenders of the CFPB that are itching to enter the legal fray between the bureau and PHH Corp. The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have also filed a motion to intervene in the en banc proceeding. The plaintiffs – State National Bank of Big Spring, TX, the 60 Plus Association and the Competitive Enterprise Institute – had previously asked the federal district court for the District of Columbia to consolidate their 2012 lawsuit against the CFPB with that of PHH. However, they were recently denied. In their subsequent petition to the U.S. District Court of Appeals for the DC Circuit, the plaintiffs noted, “More than 18 months ago, this court ...

The number of mortgage-related examinations by the CFPB declined in most areas tracked by Inside the CFPB last year – with one glaring exception: The bureau’s examinations of nonbank mortgage originators, which surged 69.2 percent, according to data provided to this newsletter under the Freedom of Information Act. Such supervisory activity on the part of the CFPB directed towards depository institutions, in comparison, fell 23.3 percent year over year, and plunged 66.7 percent from the third quarter of 2016 to the fourth. That being said, depositories have borne the bulk of the brunt of the bureau’s mortgage origination scrutiny, with 21 exams in 2014 versus just 7 for nonbanks that year. In 2015, the story was the same, with banks getting [with exclusive data chart] ...

It looks like the CFPB may be prepping an enforcement action against Altisource Portfolio Solutions over certain unspecified technology services provided to Ocwen, its largest customer, according to Altisource’s 10-K filing with the Securities and Exchange Commission, filed in recent days. “[O]n Nov. 10, 2016, Altisource received a Notice and Opportunity to Respond and Advise (NORA) letter from the CFPB indicating that the CFPB is considering a potential enforcement action against Altisource relating to an alleged violation of federal law that primarily concerns certain technology services provided to Ocwen,” the firm said. On Dec. 15, 2016, Altisource provided a written response to the NORA letter setting forth the legal, policy and factual reasons why it believes an enforcement action is ...