The case caught the attention of many loan officers and managers because it centered around the basic issue of what type of client information an LO can take with them when they depart one organization for another.
One analyst familiar with the case noted that $109.2 million “is a big chunk” for PHH, adding that the case shows “the CFPB is crazy and doesn’t want to be questioned or challenged…”
According to one published report, Gov. Andrew Cuomo is considering John Coffey as the next superintendent for New York Department of Financial Services.
W.J. Bradley Mortgage recently settled a civil suit filed against one of its competitors, RPM Mortgage, regarding the alleged theft of customer loan files by a top-ranked and recruited loan officer. In a statement, RPM said: “We are pleased that the litigation with W.J. Bradley has been settled. As always, the confidentiality of client information is of paramount importance to RPM.” W.J. Bradley, the original plaintiff in the matter, would not comment...
“The question was a surprise to many investors and resulted in clients questioning whether a CFPB crackdown in the timeshare market was ahead,” writes Compass Point analyst Isaac Boltansky…
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