LoanCare agrees to pay $4.5 million to settle a class-action suit centered on whether “convenience” fees for paying by phone or online are allowed in West Virginia. Meanwhile, the bureau is making servicers refund fees for paying by phone. 

The Mortgage Bankers Association, alongside national bank trade groups and local mortgage industry groups, sent a comment letter to a DC councilmember requesting the bill be shelved.

The request for information drew responses from a handful of labor unions and employer trade groups from a variety of industries.

CSBS names new policy and supervision chief; CFPB studies student banking; bureau sues remittances firm; DOJ settles discrimination claims with bank; Regulation F MVNs are optional; bureau states clearly false data don’t belong on credit reports.

CSBS hopes to avoid a repetition of NMLS license renewal issues that plagued mortgage loan originators last year.

The two trade groups want the California Privacy Protection Agency to clarify what behaviors are prohibited under its proposed data privacy and security rules.

Chuck Cross of the Conference of State Bank Supervisors said the new eligibility standards jointly issued by the Federal Housing Finance Agency and Ginnie Mae for nonbank mortgage companies could spur updates to harmonize model standards for states.

The legislation would have allowed for foreclosed property auctions only after trustees carried out an equity sale on the property.

The Massachusetts Attorney General’s Office settled with the Chicago-based servicer, levying the penalty mostly through principal forgiveness.

The first two states to adopt the CSBS’ model standards for nonbank mortgage servicers diverged in some ways from the model.