The acquisition will allow vendor dv01 to develop an MBS data infrastructure that speeds up traditionally slow and opaque reporting. At least, that’s what dv01 is hoping for.
Under President Biden, the CFPB could use its authority to bring actions against “related persons” of non-depository institutions, and could restore the recently eliminated DTI ratio threshold, industry watchers warn.
The Ninth Circuit Court of Appeals ruled in favor of the CFPB, concluding that the 2017 civil investigative demand issued to Seila Law was validly ratified by Director Kathy Kraninger in July 2020.
Criticism continues to mount on the Conference of State Bank Supervisors’ proposed prudential standards for nonbank servicers. The Community Home Lenders Association urged that smaller servicers be exempted from the rules.
In anticipation of a resolution, Ocwen Financial increased its legal and regulatory accrual related to the CFPB matter by $13.1 million in the fourth quarter of 2020.
The CFPB issues new guidance on serving consumers with limited English proficiency; the filing period for Home Mortgage Disclosure Act data collected in 2020 opened Jan. 1; the latest pandemic-related stimulus package pro-vides $25 billion for emergency rental assistance and extends the national eviction moratorium until Jan. 31.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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