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PHH Corp. has been ordered to pay $109 million over allegations that it illegally accepted kickbacks on reinsurance premium payments after Consumer Financial Protection Bureau Director Richard Cordray partially overruled a decision previously made by an administrative law judge.
June 4
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Bank of America will close a back-office facility in a Sacramento, Calif., suburb and outsource some of the office's employees.
June 4 -
The Consumer Financial Protection Bureau issued a consumer advisory on Thursday warning older consumers about misleading advertisements promoting reverse mortgages.
June 4 -
RPM Mortgage and its chief executive are facing $20 million in fines on allegations that the company violated the loan originator compensation law enforced by the Consumer Financial Protection Bureau.
June 4 -
The House approved a measure Wednesday that would bar the Department of Justice from using federal funding to apply a controversial legal theory on price discrimination in litigation.
June 4 -
In the struggle between operational compliance and cost control, advanced analytics and technology can help lenders find an efficient middle ground.
June 4
ACES Risk Management Corp. -
The CFPB gave little ground in its pledge Wednesday to be "sensitive" to lenders that make a "good-faith effort" to comply with new mortgage disclosure rules that go into effect in August. The agency's statements fell short of a formal grace period that the industry and lawmakers had been demanding.
June 3
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Rep. Edward Royce, R-Calif., urged fellow House members Wednesday to support a Senate proposal that would make significant reforms to Fannie Mae and Freddie Mac.
June 3 -
Bank of America scored a legal victory this week for all holders of second liens.
June 3
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The Consumer Financial Protection Bureau issued a blog post Wednesday designed to mollify industry and congressional concerns that lenders will not be ready to implement new disclosure forms by an Aug. 1 deadline.
June 3
