Enforcement

The Consumer Financial Protection Bureau plans to hire 75 employees in its enforcement division as it boosts investigations against "large market actors," according to an internal email obtained by American Banker.

The Premier Agent program regarding leads, scrutinized in the lawsuit, accounts for the majority of the company's annual revenue.

The Justice Department, Consumer Financial Protection Bureau and three state attorneys general alleged that Trident Mortgage, a lender owned by Berkshire Hathaway, engaged in redlining and discrimination in the Philadelphia area.

The credit reporting agency is trying to get a CFPB lawsuit dismissed by claiming the consumer bureau didn’t sign off on a 2017 consent order for the same violations.

Last week, the world of mortgage servicing got an unpleasant surprise. Cenlar FSB, the nation’s largest subservicer of residential mortgages, was hit with a consent order by the Office of the Comptroller of the Currency alleging “unsafe and unsound” banking practices.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

The Department of Housing and Urban Development and Federal Housing Finance Agency, which supervises Fannie Mae and Freddie Mac, formed a pact to share information and coordinate investigations of potential fair-lending violations.

A three-judge panel determined that a lower-court ruling against two law firms specializing in mortgage repair had used the wrong measure to calculate restitution.

Under the agreement with New York Department of Financial Services, the company will promote the purchase of homes in historically disadvantaged communities in the northern part of the state.

The scheme's victims included an elderly woman and a local title agency that lost $230,000 in the fraudulent property transfer.