Enforcement

The consumer bureau’s interim chief told an industry conference that “regulation by enforcement is done.”

From discussing the future of mortgage tech to debating the shifting sands of political policies, here's a preview of the big issues, topics and ideas when the industry gathers in the nation's capital for the Mortgage Bankers Association's Annual Convention & Expo.

The uproar over the incendiary writings of a Consumer Financial Protection Bureau official have led to calls for his removal, but the agency’s interim chief says he won’t “let any outside group dictate who works here.”

Ocwen is putting plans in place to realize $100 million in savings using resources from its acquisition of PHH Corp., which has just closed.

The head of the National Treasury Employees Union said the appointment of Eric Blankenstein to a senior role “reflects poorly on CFPB management.”

Eric Blankenstein, a political appointee overseeing fair-lending policy at the agency, said in an email to staff that his blog posts from 14 years ago that used a racial epithet “reflected poor judgment.”

A judge denied the settlement terms in a TCPA lawsuit against Ocwen Financial Corp. over concerns that the proposed $17.5 million payment was insufficient.

During the foreclosure crisis, thousands of Floridians turned to Mark Stopa for help in saving their homes.

What started as a single senior official at the CFPB voicing concerns about blog posts written 14 years ago by Eric Blankenstein, a top agency political appointee, is rapidly becoming a rising chorus of discontent.

The head of the agency’s fair-lending office cast doubt on a proposed reorganization of her office and raised concerns about blog posts written years ago by the political appointee overseeing the project.

Ocwen Financial Corp. has gotten the go-ahead to acquire PHH Mortgage Corp., subject to revised New York restrictions on acquisitions of mortgage servicing rights, and other conditions imposed by the state.

1st Alliance Lending plans to cut up to 35 employees in Connecticut and terminate efforts to expand its East Hartford headquarters in order to prepare for an expected increase in regulatory costs.

Though Acting CFPB Director Mick Mulvaney tried unsuccessfully to strip the agency's fair lending office of its enforcement powers earlier this year, he insisted this week that the bureau "is still in the fair lending business."

Kathy Kraninger has been tight-lipped about her plans for the consumer bureau, but some point to signs that she could curb the agency's power by reducing staff and other costs.

A 75-year-old Florida real estate developer was sentenced to six months in prison after admitting he lied to banks to keep money flowing so he wasn't forced to scuttle an oceanfront hotel and condominium in Vero Beach.

Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.

The Department of Housing and Urban Development took the very rare step of filing a secretary-initiated fair housing complaint — only three were made in the last two fiscal years — against Facebook.

The U.S. is siding with fair housing groups that claim Facebook's ad targeting tools permit discrimination based on sex, religion, familial status and national origin.

The Fed's order targets affidavits prepared by employees of CitiFinancial in connection with the company's exiting the mortgage servicing business.

Sen. Brian Schatz, D-Hawaii, said it is hard to imagine how Wells Fargo's $8 million remediation plan would correct a mistake that led to 400 wrongful foreclosures.