Servicing

‘Enigmatic’ CFPB chief could drop more surprises in a second Trump term

10/02/20

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

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Fed’s Wells Fargo review should consider forbearance snafu: Warren

10/01/20

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

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State regulator group offers guidance for mortgage servicing oversight

10/01/20

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.

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Flagstar promotes Lee Smith to head its mortgage business

09/10/20

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

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‘I’m a budget nerd’: How new FHA chief is confronting pandemic

08/17/20

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

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Wells Fargo buys $14B of delinquent mortgages tied to pandemic

07/13/20

The amount far surpassed that of any other servicer required to purchase Ginnie Mae-backed loans that were 90 days past due.

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Supreme Court ruling eliminates autodialer use for FHA, VA collections

07/06/20

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cell phones for government-related debt collection.

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Bank interest in Main Street Lending Program ‘substantial,’ Powell says

06/16/20

The Fed chairman updated senators about the agency's new credit facility for midsize firms struggling in the pandemic. He also left open the possibility of additional stress tests to gauge the industry’s coronavirus response.

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Ex-OCC chief Otting to join board of software company

06/08/20

Former Comptroller of the Currency Joseph Otting landed a post with Black Knight, which provides technology solutions to mortgage and real estate companies.

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States try to help borrowers left out of federal forbearance plans

06/04/20

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

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