Any refunds paid by the originator must occur within 210 days after the loan is made.

One servicing analyst told IMFnews that if Ocwen continues to get downgraded on its servicer ratings it could be forced to sell MSRs and/or post additional capital.

David Steckel of Bank of America said his institution has focused on capturing more of the customers who fit into the company’s credit box rather than making that box bigger.

Ocwen said it has fixed the "back-dating" problem but it may be too late for the company.

One former CEO candidate told IMFnews that back when he was approached about the job, the starting salary for the position was at least $400,000.

However, there was some good news. Flagstar reported residential originations of $7.19 billion, a 21 percent gain from 2Q.

An investor in GSE stock, Continental’s counsel in the case is Cooper & Kirk, the same law firm that represents Fairholme, a large hedge fund that bought up GSE stock last year.

At press time, the firm’s share price was getting crushed, down 25 percent on the day to a new 52-week low of $19.89.

After all, didn’t America suffer a housing “depression” because credit was too loose? Some GOP conservatives in Congress live by the edict: those who can own; those who can’t rent…

Under the CFPB’s new rule, financial institutions will be able to post privacy notices online instead of distributing an annual paper copy.