Warren, Sanders, other senators want answers from auditor KPMG on Wells Fargo

Senators question whether auditor knew of fake accounts
Wells Fargo is still answering for the more than 2 million fake accounts that 5,000 of the bank’s former employees opened in order to get sales bonuses, but now, a group of senators want to know if the bank’s auditor knew about the fake accounts too and whether the auditor did anything about it.
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Ellie Mae posts first $100 million revenue quarter

Beats capital consensus
The record-breaking quarters for Ellie Mae are not slowing down. Once again, Ellie Mae reported record revenue, breaking the record that was set last quarter, which actually broke the record set in the quarter prior to that. This time, however, marks the first ever quarter that Ellie Mae posted more than $100 million in revenue.
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Ocwen facing CFPB investigation, potential fine for servicing practices

Nonbank discusses dealings with CFPB in SEC filing
It’s been nearly three years since Ocwen Financial agreed to offer $2 billion in consumer relief and pay up to $127.3 million to settle a Consumer Financial Protection Bureau investigation into its servicing practices. But it looks like Ocwen may not be done with the CFPB yet, as the company said Thursday that the bureau is currently investigating the company’s mortgage servicing practices, which could lead to a fine and/or other disciplinary action.
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CFPB puts 44 mortgage lenders and brokers on notice over HMDA requirements

A number of new companies have to report data
Approximately 44 mortgage lenders and mortgage brokers are about to get a wake-up call from the Consumer Financial Protection Bureau, warning them that they might be in violation of the Home Mortgage Disclosure Act. The bureau, in sending these warning letters, made no determination that a legal violation did, in fact, occur, but the industry can take this as a notice that the bureau is watching.
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WCI Communities doesn't find better offer; $643M merger with Lennar to move forward

"Go shop" period expires, but deal isn't done yet
When WCI Communities, a “lifestyle community developer and luxury homebuilder” headquartered in Florida, announced last month that it agreed to a “definitive merger agreement” with fellow homebuilder Lennar for $643 million, the company said that its board was going to take a 35-day “go shop” period to seek a better deal. Now, the 35-day “go shop” period is over and the merger with Lennar is moving forward, but it’s not a done deal yet.
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Radian, Arch MI 3Q results are in and they look good

Volume hits new record
Results for the third quarter of 2016 continue to pour in for the mortgage industry. The latest on the ticket are mortgage insurance companies Arch MI and Radian. The results from both company share a common theme: the mortgage insurance business is booming.
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