The Department of Veterans Affairs issued guidance on policies regarding cash-out refinancing loans on Feb. 15, the same day the rules were to become effective.
State regulators went on the offense last week, contending week contended that the Consumer Financial Protection Bureau lacks authority to create a regulatory fintech sandbox.
Federally regulated financial institutions must accept private flood insurance on loans secured by properties in special flood hazard areas, according to a partially approved inter-agency final rule.
The New York Department of Financial Services last week rejected Fidelity National Financial’s application to acquire control of Stewart Information Services’ NY-based title insurance company.
The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
The Supreme Court refused to hear a case challenging the constitutionality of the CFPB. The case could lead to more presidential power over the consumer watchdog.
The Consumer Financial Protection Bureau needs a systematic process to prioritize consumer risks and focus its resources to address them, the Government Accountability Office said in a new report.
Lenders are not liable for a servicer’s failure to comply with the Real Estate Settlement Procedures Act, according to a recent ruling by the U.S. Court of Appeals for the Fifth Circuit. Such claims by borrowers have seen some success in district courts and this was the first time an appeals court considered the issue.
The Financial Crimes Enforcement Network.GSE anti-money laundering, SARs reporting proposed. The Financial Crimes Enforcement Network proposed regulations that would require Fannie Mae, Freddie Mac and the Federal Home Loan Banks to develop anti-money laundering programs and file suspicious activity reports with FinCEN. The government-sponsored enterprises currently file fraud reports with their regulator, the Federal Housing Finance Agency, which then files SARs with FinCEN when the facts in a particular fraud report warrant a SAR under FinCEN’s reporting standards.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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