Amicus briefs filed with the Supreme Court support Bank of America’s fight against a New York law requiring servicers to pay interest on funds held in mortgage escrow accounts.
Joe Fischer, executive vice president and chief financial officer at Navient, said the servicer “remains confident about the strength” of its case and is open to finding a solution that is acceptable to all stakeholders.
The American Bankers Association, U.S. Chamber of Commerce and the Independent Community Bankers of America, among others, allege the new CRA requirements violate the Administrative Procedure Act.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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