Servicing

S&P: Impact of CFPB shakeup, deregulation will be limited for mortgage servicers

Trump administration’s changes will not undo years of heavy regulation
Given the Trump administration’s stated mission of decreasing regulations, it’s a fairly safe bet that whoever Trump picks as CFPB director will have a vastly different view of regulation than former director Richard Cordray did. But what will the impact of that looming deregulation have on mortgage servicers? Not very much, according to a recent report from S&P Global Ratings.
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Nationstar (aka Mr. Cooper) reaches $9.2m mortgage servicing settlement with California

Violations stretch back to 2009
Last month, Nationstar Mortgage, the nonbank also known as Mr. Cooper, disclosed that it was facing a regulatory issue with the California Department of Business Oversight and in the process of negotiating a settlement. At the time, the company did not disclose what issues led to the potential settlement, but on Monday, the other shoe dropped.
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Ocwen reaches mortgage servicing settlement with Nebraska

Latest in string of settlements with states over servicing issues
Ocwen Financial disclosed Monday that it settled a number of pending legal matters, but those weren’t the only settlements the nonbank announced. Ocwen also disclosed Monday that it reached a settlement with Nebraska to remove the state’s restrictions on Ocwen’s business.
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Ocwen settlement-palooza sees $36 million going out, $30 million coming back in

Reaches settlement with CIT Bank, additional settlement on restated financials
It’s been a year of settlements for Ocwen Financial and Monday saw more of the same. On Monday, Ocwen disclosed that it reached an additional settlement with investors related to the company’s previously restated earnings, and a settlement with CIT Bank over a 2013 mortgage servicing rights deal.
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Monday Morning Cup of Coffee: Senate passes major tax reform that impacts every mortgage facet

Real estate, lending, servicing and secondary markets will all change
Tax reform. Tax reform. Tax reform. The big issue facing housing and mortgage finance, by far, is tax reform. The Senate passed its major tax reform Friday night, and now the two parties will need to come to a consensus on which tax bill they will send to the president's desk. For now there is no consensus, or clear guidance, on what tax reform will entail.
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From HW Magazine

2017 HW Vanguard Awards

45 executives leading the housing and mortgage finance industry
As 2017 wraps up and the mortgage industry faces a new year that will undoubtedly bring successes, as well as challenges, HousingWire is proud to present the 45 winners of our 2017 Vanguard Award. Read on to find out more about them...
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From HW Magazine

2017 HW Vanguard: Jimmy Walby

Deputy Chief Operating Officer at Nationwide Title Clearing
Over the last three years, Jimmy Walby has created solutions and financial efficiencies across all areas of income and waste mitigation, including designing and implementing several different critical systems for Nationwide Title Clearing, which have allowed the company to effectively manage sales and operations across all platforms. 
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From HW Magazine

2017 HW Vanguard: Scott Stoddard

Co-founder and Chief Executive Officer at Quandis
As chief executive officer and co-founder of Quandis, Scott Stoddard’s expertise in providing innovative default servicing technology solutions to the mortgage banking industry spans more than 25 years. Since founding Quandis in 2003, his leadership and management style has fostered entrepreneurial minded, out-of-the-box thinking and has resulted in a very low attrition rate with staff.
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