In direct rebuke to Richard Cordray’s interpretation, the court held that a reasonable payment is bona fide regardless of whether a referral was also involved in the transaction.
The Securities and Exchange Commission completed an enforcement action last week against Deutsche Bank Securities and a former head trader at the firm regarding sales of commercial MBS between 2011 and 2015.
Flagstar Bancorp agreed Tuesday to buy the mortgage warehouse loan portfolio from Santander Bank. The deal will make Flagstar the fourth largest warehouse loan provider by commitments.
Over the past 12 months, Stearns Lending has jettisoned its delegated correspondent lending platform and recently sold most of its $23.2 billion servicing portfolio, raising new questions about the company’s direction.