Lenders Next Expected Targets As CFPB Goes After Captive Re
April 8, 2013
CFPBs crosshairs, the bureau revealed week as it announced enforcement actions against four private mortgage insurers over the industrys use of captive reinsurance arrangements, and fining the companies relatively small amounts. These units have been in runoff mode for several years, as captive re withered after the market collapse. [I]n every kickback situation, there is somebody paying and somebody receiving. It takes two to tango, said CFPB Director of Enforcement Kent Marcus. Today, were dealing with those paying...