By the end of the decade, the embedded finance industry could be bringing in close to $400 billion in revenue each year, according to Seth Frotman, general counsel at the CFPB.
The SEC alleged Macquarie Investment Management Business Trust’s valuation practices for collateralized mortgage obligations violated the Investment Advisors Act and the Investment Company Act.
The settlement between Franklin Credit Management and the Massachusetts attorney general will require the servicer to cease collecting or attempting to collect on “zombie” second liens in the state.
“Without an increase in NMLS processing fees, CSBS staff projected losses of nearly $133 million over the next decade,” CSBS said in a report in response to feedback received on the proposal.