The mortgage industry isn’t achieving any more success than lawmakers on Capitol Hill in convincing the Consumer Financial Protection Bureau to take it easy on lenders when it’s time to start enforcing its integrated disclosure rule. Speaking at the American Bankers Association’s government relations event in Washington, DC, earlier this week, Virginia O’Neill, head of regulatory compliance for the trade group, recounted for attendees the experience of one community bank ...
State regulators proposed prudential standards for nonbank servicers this week, including provisions that would apply solely to “large, complex” servicers. Many of the standards align with generally accepted business practices and existing standards, including those established by the government-sponsored enterprises. “State regulators have primary credentialing and licensing authority over nonbank mortgage servicers, and are working to ensure ...
Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.
Although RoundPoint isn’t taking any questions regarding a possible sale of the company, it recently published a statement regarding its co-issuance and subservicing businesses.
Although Ocwen is out of compliance with the NYSE, it continues to sell mortgage servicing rights. Late Monday it disclosed a $25 billion MSR sale to Nationstar.
Fitch said the downgrade was tied to Green Tree’s “aggressive portfolio growth,” noting that the nonbank grew its MSR portfolio by almost three-fold over the past two years.
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