Compliance

The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
Another bill has been introduced into the U.S. Senate that challenges the current state of the Consumer Financial Protection Bureau (CFPB).   Sen. Mike Rounds (R-SD), a member of the Senate Banking Committee, introduced legislation to eliminate the CFPB’s funding stream from the Federal Reserve.... Keep Reading....
The Director of the Consumer Financial Protection Bureau (CFPB) took a thinly veiled shot at the Trump Administration
The battle over whether Richard Cordray should remain as director of the Consumer Financial Protection Bureau (CFPB) or whether he should be fired by the new Trump Administration has intensified, with Cordray’s supporters and detractors taking bold new steps to solidify their respective positions.... more
Question: We are considering whether to sell our mortgage servicing rights. This has been a long, drawn out process of complicated decision-making. At this point, we are still struggling with how to determine the valuations. Perhaps there is a given set of valuation criteria that we could use.... more
The Federal Housing Finance Agency (FHFA) is requesting public input on establishing a potential chattel loan pilot initiative for Fannie Mae and Freddie Mac and on a proposed Evaluation Guidance under the final rule on Duty to Serve Underserved Markets. Last month, the FHFA issued a final rule to... more
In its first housing related case of 2017, the U.S. Supreme Court issued a unanimous ruling today that Fannie Mae does not have the right to automatically bring state lawsuits to federal court. The ruling, which reverses an earlier decision by the Ninth Circuit Court, effectively shuts down Fannie... more