Servicing

Servicing

ARTICLES

Monday Morning Cup of Coffee: #Brexit fallout; what’s happening and what’s next?

More on the impact U.K. vote to leave European Union; other news of note
Well, it was all #Brexit all the time, all weekend long. Here, in your Monday Morning Cup of Coffee, are more views of the impact of the United Kingdom's shocking decision to leave the European Union behind, both in the long-term and the short-term. Plus, what some U.S. lenders are doing right now to take advantage of the post-Brexit world. For all that and more, click the headline.
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FSOC: Congress must take on housing finance reform

Time is running out
The Financial Stability Oversight Council, which includes the leaders of the government's top financial regulatory agencies, believes that it is time for Congress to take on housing finance reform, stating that regulators are "approaching the limits" of their ability to enact housing reforms.
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NHL makes it official: Las Vegas "Black Knights" coming in 2017

Expansion effort led by Fidelity National, Black Knight Chairman Bill Foley approved
Well, now it's official. The National Hockey League announced Wednesday that it will expand in 2017, becoming the first major professional sports league to bring a team to Las Vegas. The league's announcement brings a nearly two-year journey one step closer to reality for William Foley, the chairman of Fidelity National Financial and Black Knight Financial Services, who will lead the Las Vegas team as its owner.
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CFPB unveils new mortgage servicing compliance exam targets

Mortgage servicers, here's what the CFPB is looking for now
On Wednesday, the Consumer Financial Protection Bureau laid down the law on mortgage servicers, warning them that they "cannot hide" behind subpar technology and use that as an excuse to avoid CFPB sanctions. But that's not all the CFPB is going to be looking into when it is reviewing mortgage servicers. Here is what else the CFPB is going to be looking into going forward.
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CFPB issues warning to mortgage servicers: You can't hide behind bad computer systems

Investigations found servicers' deficient technology caused harm to consumers
The Consumer Financial Protection Bureau just fired a shot across the bow of the country's mortgage servicers after it found that some servicers are using outdated computer systems that could run them afoul of CFPB rules. "Mortgage servicers can't hide behind their bad computer systems or outdated technology," said CFPB Director Richard Cordray. "There are no excuses for not following federal rules."
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FTC shuts down "appalling" multi-million dollar mortgage relief scam

Law firms accused of falsely promising rescue from foreclosure
The Federal Trade Commission halted a massive mortgage relief scheme perpetrated by a series of law firms, which falsely promised to help struggling homeowners save their homes in exchange for hundreds or thousands of dollars in legal fees. One senior FTC official called the scheme "appalling."
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