September 12, 2018


In This Issue:

  • TDI Warns Insurers to Watch Out for Fake Emails
  • CFPB Issues First Supervision Report Under Mulvaney
  • PHH, Realogy receive final approval for $17m RESPA settlement
  • GSE News: Hensarling Unveils Sweeping Bipartisan Housing Finance Reform Bill

TDI Warns Insurers to Watch Out for Fake Emails

Texas Department of Insurance | Sept. 11, 2018
The Texas Department of Insurance has received reports of fake emails that appear to be from the agency. Always check the address carefully before opening attachments or clicking links. TDI doen't send from AOL accounts.
CFPB Issues First Supervision Report Under Mulvaney


 Wall Street Journal | Sept. 6, 2018

The Consumer Financial Protection Bureau has in recent months found illegal activities in mortgage and auto-loan servicing and at payday-lending companies, a sign the bureau continues to scrutinize financial companies under the Trump administration.

The CFPB provided an update on its supervision and examination activities in a report released Thursday—the first since acting Director Mick Mulvaney took over in November 2017. Mr. Mulvaney, a Trump appointee who also serves as the White House budget chief, has introduced a more collaborative enforcement approach to companies the CFPB oversees than was the case during the Obama administration. That has prompted criticism from officials hired in the prior administration.
 
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PHH, Realogy receive final approval for $17m RESPA settlement

Mortgage Professional America | Sep. 5, 2018
PHH and Realogy Holdings have obtained final approval from a California federal judge for their $17 million settlement to resolve a consumer class-action lawsuit.
The settlement also involves subsidiaries and affiliates of both companies.

PHH and Realogy were initially sued in November 2015 over allegations that they improperly paid and received kickbacks, referral fees, or other things of value in connection with the referral of title insurance and other settlement services in violation of RESPA.


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GSE News: Hensarling Unveils Sweeping Bipartisan Housing Finance Reform Bill

HousingWire | Sept. 6, 2018
It’s now officially been 10 years since the government took Fannie Mae and Freddie Mac into conservatorship. And in that decade, an uneasy status quo has developed with Fannie and Freddie dominating the housing finance system, despite their limited capital bases and unresolved position as wards of the federal government.

But if House Financial Services Committee Chairman Jeb Hensarling, R-Texas, has anything to say about it in his final days in office, all of that uncertainty will soon be resolved.
 
Hensarling, long an advocate for reforming the country’s housing finance system, announced Thursday that he plans to introduce two major housing finance reform bills, both of which would upend Fannie and Freddie’s place in the market and work to bring private capital back into the market.
 
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