The bureau, which is speeding things up to make sure the case is decided by June, says the Fifth Circuit decision contradicts the Constitution, historical practice, and case law.
An executive at tech vendor Stavvy said the CFPB, instead of acknowledging the work done by servicers during the pandemic, was focusing on one or two servicers whose response time may have lagged.
While CFPB Director Rohit Chopra is looking to simplify rules and issue more guidance to address uncertainties, some industry participants are skeptical the agency will follow through.
The CFPB is looking to hire roughly 25 tech-savvy employees to aid in supervision and enforcement. The positions to be filled range from data scientists to user experience designers.
The new office, which replaces the Office of Innovation, will broaden its focus to include research and policy oriented at identifying and addressing obstacles to competition.
Although CFPB Director Rohit Chopra’s tenure so far has been unusually quiet on the mortgage front, industry attorneys and executives said other actions indicate there’s enforcement on the horizon.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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