Mr. Cooper has agreed to pay more than $131 million to settle two separate investigations tied to servicing violations following the 2008 financial crisis.
Purchase-mortgage production is expected to climb to a record high next year, according to industry economists. Refis may not match this year’s unprecedented volume but will still remain strong.
In June, community advocacy groups, including the NCRC, brought a lawsuit against the Office of the Comptroller of the Currency over its final CRA rule...
Mr. Cooper will pay $91.3 million to settle with state regulators and the CFPB for violations of federal and state servicing rules, according to an agreement released this week.
Under the finalized policy, the CFPB issued two advisory opinions or “interpretive rules” regarding earned wage access programs and certain education loan products.
The CFPB said it will consider the Government Accountability Office’s recommendation, but rulemaking will involve joint efforts with other regulators. Meanwhile, institutions can themselves revise the model form on a trial basis.