The tension between regulators and those in the mortgage servicing space is colored by mistrust of motive, fear of overreaction, and the general worry that perhaps, in some cases, regulators don't fully understand the very industry under their aegis.
FBR Capital Markets take a detailed look at the world of MSRs – the regulations, the risks, and the rewards – especially given a hostile regulatory environment and questions about what else could be coming down from Capitol Hill.
The “regulator with zeal” heading New York’s Department of Financial Services says Ocwen Financial has a “number of potential conflicts of interest” with other public companies it’s dealing with, and he wants his questions answered.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More