Items Tagged with 'PHH Corp.'

ARTICLES

  • Court of Appeals rules against CFPB, vacates PHH’s $100M fine for alleged RESPA violations

    It wasn’t a sweeping victory for the CFPB after all
    While the main story coming out of Wednesday’s stunning decision from the Court of Appeals for the D.C. Circuit was the court upholding the constitutionality of the CFPB, the bureau didn’t escape unscathed. The full Court of Appeals upheld the court’s earlier decision that former CFPB Director Richard Cordray far exceeded his authority as director when he handed down a seven-figure fine against PHH for RESPA violations.
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  • PHH adds Albert Celini as senior vice president, risk and compliance

    Will become chief risk and compliance officer on Jan. 1, 2018
    The management shakeup at PHH Corp. continued Monday when the company announced that it hired Albert Celini as senior vice president, risk and compliance. But Celini will only serve in the role for a little over a month. On Jan. 1, 2018, Celini will assume the role of chief risk and compliance officer, replacing Leith Kaplan, who will step down on Dec. 31, 2017.
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  • PHH promotes Madeline Flanagan to senior vice president and general counsel

    Replaces William Brown, who is stepping down as part of leadership changes
    PHH announced Monday that Madeline Flanagan will succeed William Brown as senior vice president and general counsel of PHH, effective Jan. 1, 2018. Brown is set to depart as part of series of leadership changes that included Robert Crowl replacing Glenn Messina as the company's president and CEO.
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  • Morgan Stanley makes big push into mortgage originations

    Moves operations in-house
    Morgan Stanley plans to bring its mortgage origination business in-house, as the bank ramps up the business to create a bigger presence in the mortgage market. Along with a digital mortgage that’s expected to launch the first half of 2018, the company now plans to bring its operations in-house to smooth out the mortgage process.
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  • PHH reaches $75 million settlement with DOJ over False Claims Act violations

    Whistleblower awarded $9 million
    PHH Corp. announced it settled with the U.S. Department of Justice to resolve issues over alleged False Claims act violations. PHH said it settled with the DOJ on behalf of the Department of Housing and Urban Development and separately with the DOJ on behalf of the U.S. Department of Veterans Affairs and the Federal Housing Finance Agency. The settlement resulted in PHH having to pay a whopping $75 million.
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  • Meet the new boss: Robert Crowl takes over at PHH

    Former chief operating officer replaces Glen Messina as president and CEO
    Three months ago, PHH unexpectedly announced that Glen Messina, the company’s president and CEO, would be stepping down this year after the company’s annual shareholder meeting. At the time, PHH said Robert Crowl, who previously served as the company’s executive vice president and chief operating officer, will be taking over for Messina. Now, it’s official.
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  • PHH shakes up senior leadership, CEO Glen Messina departing

    Chief Financial Officer Robert Crowl tabbed as replacement
    Over the last few years, it’s been a two-pronged battle for PHH Corp. On one side, the company is locked in a legal war with the Consumer Financial Protection Bureau. On the other side, PHH’s business has undergone dramatic shifts. One of the few constants during this time of transition has been the company’s CEO, Glen Messina. But that’s not the case anymore.
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  • CFPB fights back against "unconstitutional" ruling; asks court to rehear PHH case

    Embattled agency asks for full Court of Appeals review
    The Consumer Financial Protection Bureau is not ready to give up in its fight against PHH. The case started when the bureau added $103 million to a $6 million fine against PHH for allegedly illegally referring consumers to mortgage insurers in exchange for kickbacks. PHH sued, and the CFPB’s leadership structure was eventually declared unconstitutional by the United States Court of Appeals for the District of Columbia Circuit. On Friday, the CFPB asked the full court to rehear the case.
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