Critics of recent False Claims Act enforcement argue the Justice Department is too heavy-handed toward lenders and servicers. But in an industry reputed for shoddy processes during the crisis, perhaps stringent oversight is warranted.
If CFPB Director Richard Cordray leaves ahead of his July 2018 term expiration, President Trump would be limited in who he could pick as an acting director and may face challenges in rolling back the rule banning mandatory arbitration clauses.
He is, by Wall Street standards, a small-time banker. But in 2014, with Donald Trump eyeing a run at the White House, Stephen Calk stepped into the big-money world of New York real estate — and a network of Trump associates.
The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.
From the Trump administration's initial efforts at reg relief and GSE reform to dramatic shifts in the servicing landscape, here's a look back at the top stories shaping the mortgage industry during the first half of 2017.