Notice of the final order on PHH sent the nonbank’s share price tumbling four percent at one point. Regulators say the MI kickback scheme started as early as 1995.
Mortgages with uncured TRID violations will have higher losses if they default, owing to the potential for increased legal costs and damages, said Moody's.
Plenty of attendees at NAR were steamed that after CFPB Director Richard Cordray made his remarks about TRID that he left the meeting without taking a single question from the audience.