Servicing

Chase Bank to cut 400 mortgage jobs

10/05/18

JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.

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SEC fines former Ocwen exec for insider trading before CFPB, PHH news

09/28/18

A former Ocwen Financial executive is settling Securities and Exchange Commission charges that he engaged in insider trading related to his company's dealings with Altisource Portfolio Solutions following a CFPB enforcement action and its upcoming merger with PHH Corp.

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Why it will be hard to find new CEOs for Fannie and Freddie

09/24/18

The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.

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Closing the digital mortgage gap

09/11/18

Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up?

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Citi fined $8.6M for deficiencies in subsidiary's mortgage docs

08/10/18

The Fed's order targets affidavits prepared by employees of CitiFinancial in connection with the company's exiting the mortgage servicing business.

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Senate Democrats send CFPB nominee list of follow-up questions

07/27/18

Kathy Kraninger, a senior official at the Office of Management and Budget, largely avoided answering direct questions at her nomination hearing.

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Court keeps Ocwen records sealed in CFPB dispute over escrow accounts

06/26/18

Ocwen Financial is able to keep the answers to questions from the Consumer Financial Protection Bureau involving the improper handling of escrow accounts confidential, a federal magistrate ruled.

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Waters bill would strengthen FHFA oversight of mortgage servicers

06/18/18

The bill aimed at helping struggling homeowners also requires documentation of servicer behavior and FHFA evaluation of the services provided to borrowers.

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New MBA chief's hardest job? Not screwing things up

06/08/18

Robert Broeksmit has a tough act to follow succeeding David Stevens, the CEO revered for navigating the Mortgage Bankers Association through one of its most tumultuous eras on record. But in doing so, Broeksmit has a distinct advantage over many of his predecessors: inheriting an organization on the upswing.

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Legal filing confirms CFPB's dismissal of PHH case

06/07/18

Acting CFPB Director Mick Mulvaney wrote in a two-paragraph filing that the Mount Laurel, N.J., company did not violate the Real Estate Settlement Procedures Act.

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