Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.
Powell says he backs raising the SIFI threshold and easing capital requirements for big banks; Mulvaney says agency will weigh costs of compliance for lenders.
From accelerating its subservicing transformation to overcoming regulatory obstacles, here's a look at three reasons behind Ocwen Financial Corp.'s $360 million acquisition of PHH Corp.
Acting CFPB Director Mick Mulvaney dismissed concerns by Sen. Elizabeth Warren, D-Mass., about his leadership of the consumer agency while supporting a lighter regulatory touch for credit unions.
Credit union executives talked up a pending regulatory relief effort while endorsing a radical shift in direction by the Consumer Financial Protection Bureau during a meeting with President Trump and other top White House officials on Monday.
The clock starts ticking this week on a busy agenda of financial services priorities on Capitol Hill, including passing reforms to Dodd-Frank, overhauling the housing finance system and confirming key regulators.
The war of words between acting Consumer Financial Protection Bureau Director Mick Mulvaney and Sen. Elizabeth Warren, D-Mass., the agency's architect, is escalating.
Commenting on the consumer bureau’s enforcement practices as part of a CFPB review could help shape regulatory reforms, but it could also draw attention to a firm’s run-in with the agency.
The Consumer Financial Protection Bureau is seeking comment on how to engage the public in field hearings and town hall meetings as part of a broad review of all of the bureau's processes.
The bureau’s policy of “no-action letters,” which offer some regulatory cover to participants, has failed to attract much interest from financial startups, suggesting change is needed.
