A careful examination of the big-ticket enforcement actions the Consumer Financial Protection Bureau has brought against leading mortgage servicers can help others in the space avoid the same fate and protect their bottom lines, according to top industry legal experts. During an Inside Mortgage Finance webinar earlier this week, Allyson Baker, a former CFPB attorney and partner at the Venable law firm in Washington, DC, discussed the importance of trends seen in a handful of servicing enforcement cases against Ocwen, SunTrust Bank and Flagstar Bank. “I think...

In regard to misrepresentations, relief will not be offered if it can be proved that a borrower was misled by the originator. And, of course, any mortgage subject to fraud must be bought back.

A GSE bill? Since Congress and President Obama have such a strong track record of working together on legislation we know how that’s going to turn out…

Several weeks back, a FHFA official told IMFnews that just 18 members would be affected by the captive rule, mostly REITs.

Mortgage companies may not realize it, but the CFPB is partnering with the state attorneys general, the Department of Justice, and in some cases, the Department of Financial Services in New York.

After a servicing sale closes, the GSEs must monitor each transaction to make sure the transfer of receivables took place in a timely manner and more…

The two GSEs have been in conservatorship for six-plus years now, with no legislative solution to their future in sight.

The new bulletin discusses standards and guidelines on verification of disability income, including those under the CFPB’s ability-to-repay rule.

The CMBS market is well known for rating shopping, where issuers will invite up to six CRAs to conduct a preliminary review of an initial asset pool.

In a statement, Rep. Hensarling decried last year’s $1.7 billion “taxpayer-funded bailout” of the FHA.