Rep. Sherman of California noted: “Studies have shown that in some geographic areas, it is possible to determine the identity of nearly 100 percent of the borrowers using the data that lenders are required to collect and report by the Home Mortgage Disclosure Act.”
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Deephaven is headed by former Goldman Sachs managing director Matt Nichols, who earlier this year predicted strong growth for the correspondent buyer of non-QM loans…
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“Our ability to maintain or grow our servicing business may depend, in part, on our ability to acquire servicing rights from, and/or enter into subservicing contracts with, third parties,” the company said in an SEC filing.
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As might be expected, Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee, did his best to pummel the CFPB and its Director Richard Cordray during a hearing Wednesday.
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