Items Tagged with 'PHH vs. CFPB'

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PHH laying off more employees in New York

Cuts will leave company with 30 employees in region
Given the headlines of late, it may be easy to forget that PHH Mortgage Corp’s landmark battle with the Consumer Financial Protection Bureau isn’t the only issue the company is facing. The company is also in the middle of a significant shift in its business, necessitated by substantial changes in its mortgage servicing operations.
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Monday Morning Cup of Coffee: Trump tapping familiar face to lead DOJ's civil division?

What will become of False Claims Act charges under new leader?
It looks like President Donald Trump is about to install a familiar face as the leader of the Department of Justice’s civil division. If that happens, what happens to the DOJ's recently preferred tactic of using the False Claims Act to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration? The answer, and more, in your Monday Morning Cup of Coffee.
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In major reversal, U.S. sides with PHH, calls CFPB structure unconstitutional

DOJ asks court to give president authority to fire CFPB director at will
Recently, the U.S. government began to give off indications that it might be switching sides in the landmark battle between the CFPB and PHH, signaling that the Trump administration would not be as supportive of the CFPB as the Obama administration had been. And Friday, that's exactly what happened. Click the headline for the full story.
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PHH urges Court of Appeals to kill CFPB

Argues CFPB constitutional issues go well beyond director’s authority
PHH wants the full Court of Appeals for the District of Columbia Circuit to do more than simply declare the leadership structure of the Consumer Financial Protection Bureau unconstitutional; it wants the Court of Appeals to kill the CFPB altogether.
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Court of Appeals agrees to rehear CFPB case, agency to fight "unconstitutional" ruling

Full court will rehear PHH case
If President Donald Trump wants to fire Consumer Financial Protection Bureau Director Richard Cordray, he’s going to have to wait a little longer to do it, as the U.S. Court of Appeals for the District of Columbia Circuit ruled Thursday in favor of the CFPB. The ruling allows the embattled agency to defend the constitutionality of its leadership structure.
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Second time a charm? Democrats again defend CFPB in battle with PHH

Slim odds for success
Key Democratic parties aren’t ready to back down from defending the Consumer Financial Protection Bureau just yet. In a last-second twist before the D.C. Circuit panel releases its decision on the CFPB’s petition for rehearing en banc, three Democratic groups filed requests for the full court to reconsider the panel’s denial of the motions to intervene in the government regulator's case against PHH.
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Democratic state AGs join fight to save CFPB from Trump

Seek to intervene in PHH fight over CFPB independence
The embattled Consumer Financial Protection Bureau, which top Congressional Democrats recently pledged to defend against potential attacks from the Trump administration, has more defenders in its corner now, as more than a dozen state attorneys general are joining the fight to protect the CFPB.
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Here are HousingWire's top 10 articles of 2016

Thanks to our loyal readers for making this another great year
The past year was record-breaking for HousingWire in just about every metric we have, and that’s all thanks to you, our loyal readers. You push us to do more, to do better, to reach higher, to dig deeper, to keep fighting, and we have no plans of stopping. So here, as we begin a new year, are HousingWire’s top 10 articles of 2016, as determined by our readers.
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CFPB, PHH curry court's favor with competing, combative arguments

Fight continues over "unconstitutional" ruling
With a landmark decision looming, the Consumer Financial Protection Bureau and PHH are continuing their legal battle and attempting to sway the U.S. Court of Appeals for the District of Columbia Circuit into either upholding the court’s initial ruling that declared the agency’s leadership structure unconstitutional or agreeing to rehear the case.
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What happens now that the CFPB appealed its "unconstitutional" ruling?

Compass Point on the next steps in the PHH legal battle
As expected, the Consumer Financial Protection Bureau last week appealed the U.S. Court of Appeals ruling that declared the agency’s leadership structure unconstitutional and vacated a $103 million increase to a $6 million fine levied against PHH. So what happens now? First, the wait begins for the court to determine whether it wants to hear the case en banc or not. But just how long is that wait going to be? And what does it mean in the interim?
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