The settlement comes after the Supreme Court refused to hear a case in which the Third Circuit found that NCSLT were a “covered person” under the Dodd-Frank Act and subject to the CFPB’s oversight.
The custodial structuring and deposit accounts used in securitizations don’t pose any policy concerns that the FDIC’s rule is attempting to fix, according to SFA.
Mortgage-related complaints submitted by consumers to the CFPB last year were the lowest since the bureau opened its door more than a decade ago. (Includes two data tables.)
Oversight of nonbank mortgage servicers, support for community banks and reinvigoration of federal partnerships are among state regulators’ top priorities.
The enforcement action against Lakeview/Bayview Loan Servicing puts mortgage servicers on notice that they can no longer be lax about cybersecurity compliance.