The move signals an aggressive effort by federal regulators to rein in consolidation in the mortgage tech industry. ICE said it is prepared to fight the FTC over the Black Knight deal.
Rocket has a huge imbalance between refinances and purchases. Will “distributed” retail help? Meanwhile, FHA rolls out its 40-year modification product.
A ruling against the CFPB could reshape the bureau’s funding structure and call into question every action taken by the consumer watchdog since its inception in 2011.
RMK Financial/Majestic Home Loans continued to use advertisements that led consumers to believe it was affiliated with the FHA or VA in violation of a 2015 consent order.
Appellate courts are rejecting older interpretations of the Fair Credit Reporting Act and Fair Debt Collection Practices Act, while the CFPB is pushing its own readings of them through guidance.