DS News Webcast: Wednesday 2/13/13

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Coverage: – Mortgage Delinquency Rate Falls Nearly 14% from 2011 – Fannie Mae Introduces Tool to Escalate Short SalesVisit www.DSNews.com for all of your relevant top Default Servicing news Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Previous: Judge Rejects Wells Fargo’s Bid to Have Case Dismissed Next: New General Counsel Hired at Ascension Capital Group DS News Webcast: Wednesday 2/13/13 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2013-02-13 DSNews Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Media, Webcasts The Best Markets For Residential Property Investors 2 days ago  Print This Post Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / DS News Webcast: Wednesday 2/13/13 Share Save February 13, 2013 539 Views Demand Propels Home Prices Upward 2 days ago About Author: DSNewslast_img read more

FHFA Extends Comment Period for Proposed FHLB Rule Until January 12

first_imgSubscribe Related Articles Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Fed’s Labor Market Index Shows Signs of Recovery In September Next: DS News Webcast: Tuesday 10/7/2014 The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago FHFA FHLBanks Government Mel Watt 2014-10-06 Brian Honea Tagged with: FHFA FHLBanks Government Mel Watt Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FHFA Extends Comment Period for Proposed FHLB Rule Until January 12center_img Home / Daily Dose / FHFA Extends Comment Period for Proposed FHLB Rule Until January 12 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 6, 2014 756 Views  Print This Post in Daily Dose, Featured, Government, News The Federal Housing Finance Agency (FHFA) announced on Monday a 60-day extension for the comment period for proposed rule to revise membership requirements for Federal Home Loan Banks back in September.The comment period which was set to end on November 12, 2014, which is 60 days from the date it was published in the Federal Register, will now end on January 12, 2015. FHFA gave as its reasons for extending the comment period the importance of the issues being addressed, the high interest level in the proposal, and requests from stakeholders for more time to evaluate the proposal.FHFA Director Mel Watt encouraged the federal banks to stay focused on the FHFA’s mission in a speech at the FHLB Director’s Conference in May. In that speech, Watt discussed the “different” risk of lending to insurance companies and stated that captive insurers deserve some “additional attention.””Captive insurance borrowing and membership in the FHLBank System raises a number of possible issues related to safety and soundness and access to the System,” Watt said in his speech.Watt said he could not elaborate on the issues surrounding the membership of captive insurers at the time of the speech, but one of the proposed changes would eliminate captive insurers for consideration for FHLB membership by changing the definition of “insurance company” to include only those companies that have insurance underwriting for nonaffiliated parties as their primary business. It would also keep out those entities not eligible for membership from using a captive insurer to gain access to advances from one of the Federal Home Loan Banks.Another proposed revision requires members to hold one percent of their assets in home mortgage loans (HML) on an ongoing basis, whereas under current guidelines members are required to demonstrate this only at the time of their application and not at any time afterward. Similarly, the proposed rule revisions would require members to adhere to the 10 percent residential mortgage loan (RML) requirement on an ongoing basis instead of just at the time of application.To comment on the proposal, visit www.fhfa.gov. About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. last_img read more

Housing Forecast Calls for Increase in Existing-Home Sales

first_img Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. About Author: Xhevrije West Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Auction.com Existing Home Sales Housing Market Nowcast  Print This Post According to Auction.com’s, LLC Real Estate Nowcast for May, despite an unexpected drop in April, existing-home sales in May are expected to pick up and fall between seasonally adjusted annual rates of 5.03 and 5.34 million annual sales, with a goal of 5.18 million. This is a 2.9 percent increase from April and a 5.8 percent increase from a year ago. Auction.com expects May sales to come in at 5.18 million units (SAAR), and median sales prices at $220,799.The Nowcast predicts market trends as they are happening before actual findings are released using industry data, proprietary company transactional data, and Google search activity, the company says.“Heading into the summer buying season, we’re expecting to see healthy increases in home sales activity – though those increases will likely occur at a more modest pace,” said Rick Sharga, EVP at Auction.com. “While the jump we saw in March somewhat made up for lackluster performance in January and February, tight inventories, strict lending standards, and diminished participation by investors remain significant obstacles for the market.”Yesterday, the National Association of Realtors (NAR) reported that existing-home sales were at 5.04 million units, a 3.3 percent decrease from March, though up 6.1 percent from a year ago. Both, Auction.com and Consensus estimates were off for April because they predicted a stronger performance based on data released in March.However, Auction.com’s estimate of $201,052 and $222,215 for existing-home prices in April was correct, according to the company. The NAR reported an increase in existing-home prices in April to $221,230, revealing an 8.9 percent increase compared to a year ago and marking a new high for home prices, which are now 2.6 percent below their pre-bust level.“It’s important to keep blips like the one we saw in March in context. We’re in an unusually volatile period in the housing market, with almost unprecedented swings in sales volumes from month to month, Sharga said. “The bottom line is that in a truly healthy housing market, we’d already be on pace for 6 million existing home sales, but at this rate, I expect that the market will stay in the 5 million range for at least the remainder of the year.”For May, the Nowcast suggests that existing-home sales prices will increase 4.2 percent year-over-year for the month, and will fall between $209,759 and $231,839, with a targeted price of $220,799.“In our estimation, this burgeoning home price strength should help to boost sales out of their range, as a key constraint to sales at this time is the low level of inventory for sale,” said Peter Muoio, Auction.com chief economist. “Higher prices should entice more sellers into the market.”According to the company, stronger owner-occupier demand is also needed to offset current subdued investor purchasing activity.“The good news on that household formations have been following a much better path recently, following the Census Bureau’s massive revisions released last summer,” Muoio said. “The improving economy should generate continued healthy household formations and therefore stronger demand for homes down the road.” Auction.com Existing Home Sales Housing Market Nowcast 2015-05-22 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Housing Forecast Calls for Increase in Existing-Home Sales The Best Markets For Residential Property Investors 2 days agocenter_img May 22, 2015 1,187 Views Subscribe The Best Markets For Residential Property Investors 2 days ago Housing Forecast Calls for Increase in Existing-Home Sales Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Share Save Related Articles Previous: Senate Banking Committee Approves Financial Regulatory Relief Bill Next: Single-Family Built-for-Rent Market Higher than Historical Average, but Still Below Peak Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Rising Compliance Costs Burden Financial Firms

first_img April 20, 2016 1,052 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.  Print This Post Subscribe Tagged with: CFPB Compliance Consumer Financial Protection Bureau Regulation Data Provider Black Knight to Acquire Top of Mind 2 days ago CFPB Compliance Consumer Financial Protection Bureau Regulation 2016-04-20 Brian Honea Share Save Previous: NAR Calls for Further FHA Insurance Premium Reductions Next: Credit Unions’ RMBS Recoveries Reach Milestone The Week Ahead: Nearing the Forbearance Exit 2 days ago Rising Compliance Costs Burden Financial Firms A fiercely raging debate for the last five years is whether or not the added costs imposed on businesses that must comply with increased regulations justifies the benefits of those increased regulations.While that debate continues, one thing that is hard to dispute is that the increased regulations have resulted in greater compliance costs for firms in the financial industry. A recent survey of C-level financial services executives, risk services directors, and compliance officers showed that more than three-quarters of respondents have seen their compliance costs rise due to regulation.In addition to covering how financial services companies are handling the requirements of the increased regulation brought on by Consumer Financial Protection Bureau in the last few years as well as their perception of consumer sentiment with regards to the heightened regulatory environment. The survey was conducted by Aptean Consumer Complaints Compass.What the survey found was that 86 percent of respondents said they had seen their compliance costs increase due to increased regulation, and 29 percent of respondents said that they had to significantly expand their teams that handle complaints so that the complaints could be properly managed.“As the CFPB continues to shine the spotlight on subpar providers, everyone in the financial services industry is feeling the pressure. There is a direct correlation between increased consumer complaint exposure and rising volumes,” said Matt Keenan, Aptean Group VP of CRM. “Ultimately, those providers who have implemented strategies and technology to better navigate compliance and strengthen relationships with consumers will continue to thrive.”Keenan continued, “It is important for financial institutions of all sizes to begin capitalizing on the lessons learned by organizations currently impacted by the CFPB. “Proactively implementing best practices is an opportunity to differentiate themselves from their competition and to improve customer retention and satisfaction.”According to the survey, some strategies that financial servicers professionals are employing in order to curb complaints are: Treating complaint management as a firm-wide exercise in product/service improvement (70 percent of respondents have implemented, and another 15 percent are considering implementing before the end of the year); aligning complaint management policies and procedures with requirements of CFPB audits (63 percent of respondents have already implemented, while another 11 percent said they were considering implementing but have not set a date); and leveraging modern technology, such as a focused complaint management solution (56 percent of respondents have implemented, and only 7 percent said they are not considering implementing).Click here to view some fast facts about the survey. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Rising Compliance Costs Burden Financial Firms Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Counsel’s Corner: Facing Challenges in Financial Services

first_imgHome / Daily Dose / Counsel’s Corner: Facing Challenges in Financial Services The Best Markets For Residential Property Investors 2 days ago October 26, 2017 1,111 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago HOUSING mortgage 2017-10-26 Nicole Casperson Counsel’s Corner: Facing Challenges in Financial Services Share Save Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Editor’s note: This article first appeared in the October issue of DS News, out now. Kerry Franich is a certified specialist in appellate law who works in Severson & Werson’s Orange County office where he prosecutes and defends State and Federal Appeals covering subjects including financial services, real estate, arbitration, unfair competition, discrimination, judicial disqualification, and civil procedure. DS News spoke with Franich about the greatest challenges financial services’ attorneys are facing today and how his years of experience help him navigate today’s climate.What current challenges are appellate attorneys who work in default litigation facing?Procedurally, court congestion has worsened in many jurisdictions, which causes a lot of appeals to progress at a seemingly glacial pace. That’s frustrating for both us and our clients, particularly when a sale is being delayed because of an appeal.  Similarly, cases filed in trial courts these days often survive longer than cases filed several years ago because today’s cases are usually less vulnerable to pleadings challenges. More frequently, eliminating them requires a motion for summary judgment or trial.  So, one challenge is ensuring that our clients don’t get trapped in a holding pattern just because of a pending appeal or lawsuit. We find that stagnant cases often lead to other problems: property preservation issues, needless escrow advances, and ballooning loan balances, all of which reduce the probability of the borrower curing the default or qualifying for a modification. There are substantive challenges too. Regulatory compliance is rightly a top concern for most of our clients right now, but there are also basic macro-level changes occurring in the law right now that are equally important.  For example, in some jurisdictions, our basic understanding of loan servicers’ roles and obligations is changing. Do they owe borrowers a duty of care when reviewing loan modification applications? Courts are dividing over that question, so the answer may depend on the jurisdiction in which you’re litigating.  Likewise, litigation involving the various state homeowner bills of rights that were enacted years ago are now reaching appellate courts. So, we’re starting to receive guidance from those courts about what certain sections of those bills mean and require.  In short, the challenge is keeping up with rapid changes in law, anticipating the direction the law is headed, and writing briefs that help shape the law’s direction.   What strategies can servicers employ to avoid costs and delays? It obviously depends on the case, but generally speaking, there are a few strategies that servicers can consider. The common theme running throughout them all, however, is to be proactive rather than reactive: foreclose, sell, and evict.   Absent confirmed wrongdoing or a genuine threat of exposure to liability, foreclosing, selling properties out of REO, and evicting as quickly as possible tends to mitigate costs and reduce the probability of sequel lawsuits. In some cases, proceeding with a foreclosure, sale, or eviction can also prompt new settlement negotiations or voluntary dismissals. However, depending on your jurisdiction and the facts in your case, this strategy may be unavailable (for example, there’s a stay forbidding a sale).  In addition, servicers should stop successive modification reviews if possible. Anyone on the front lines of foreclosure-related litigation has no doubt encountered the homeowner who applies for a loan modification after filing a lawsuit, is denied, and then re-applies again a few days, weeks, or months later. This area is fertile ground for wasting both time and attorney fees.Successive reviews can also be dangerous. For example, when a borrower files a meritless lawsuit after repeatedly getting denied a loan modification, but the servicer thereafter commits an egregious mistake while re-reviewing him or her (such as inadvertently foreclosing during the review). Servicers need to be careful to avoid creating liability where there was originally none.  Depending on the jurisdiction and the circumstances of the case, a servicer may be required to re-evaluate the homeowner for a loan modification. However, if no obligation exists, servicers that value efficiency will choose to decline starting another review when it has no chance of success and creates no advantage in defending the litigation.  In what ways do you help the servicers you work with streamline the appeals process? We search for ways to terminate the appeal short of a decision on the merits. In cases pending in backlogged appellate courts, search for opportunities to ditch the appeal earlier by motion. Appellate courts tend to issue decisions on motions a lot faster than full-blown decisions on the appeals’ merits. Sometimes, this is as easy as identifying a jurisdictional defect, like an untimely appeal. But there are other more subtle attack strategies too. Has a pivotal issue in the appeal become moot? Is there a way to have a party designated as a vexatious litigant?  Is there an order you obtained in the trial court you can enforce while the case is on appeal? If so, that might be a source of unexpected leverage—most appellate courts have the inherent power to dismiss an appeal where a party fails to comply with a trial court order (the disentitlement doctrine). In short, don’t assume you’ll need to wait two years for an appellate court to file a decision on the merits. There may be a way to kill the case earlier.  How can attorneys partner with servicers to predict and plan for litigation expenses?  Forming an estimated budget at the suit’s inception is typically helpful for both us and our clients. And if something in the case occurs that dramatically impacts the budget’s estimate, then obviously updating the budget is important.  Flat fee billing structures are helpful for those clients that want greater accuracy in forecasting legal expenses.  Another area that is sometimes overlooked is scrutinizing whether any offensive litigation can be filed that might offset the cost of defense. Default servicing litigation has traditionally been strictly defensive in nature. But an unsettling number of lawsuits against servicers sometimes reveal fraud and other misconduct committed by borrowers or other third parties.  Yes, pursuing a cross-complaint may be futile if the target has no assets.  But not always.    Tagged with: HOUSING mortgage Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines Previous: Previous Post Next: Existing Home Sales: Owners Aren’t Budging Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Nicole Casperson The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

Senate Banking Committee Approves Jerome Powell as Fed Chair

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Senate Banking Committee Approves Jerome Powell as Fed Chair Home / Daily Dose / Senate Banking Committee Approves Jerome Powell as Fed Chair Related Articles December 5, 2017 1,097 Views Previous: Property Preservation: Gaining Proactivity Next: Quicken Calls Lawsuit ‘Meritless and Frivolous’ 2017-12-05 David Wharton About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Government, Journal, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The U.S. Senate Banking Committee met in full open session this morning and approved Jerome Powell as Chairman of the Board of Governors of the Federal Reserve System. The vote was 22-1 in favor, with Senator Elizabeth Warren as the sole dissenting vote.The matter must now go to a full Senate vote before Powell can officially be confirmed for the position.President Trump nominated Powell as Fed Chair on November 2. A Federal Reserve Board governor who previously worked as a private-equity executive, Powell will succeed current Fed Chair Janet Yellen. After Powell’s nomination, Yellen announced on November 20 that she would be resigning from the Federal Reserve Board in February 2018, rather than serving out the remainder of her term through 2024.Powell’s nomination met little resistance in the Senate. Although Powell is a Republican and was nominated by President Trump, Democrats voted for him almost unanimously in 2012 and 2014 when he was nominated for the Fed board by President Obama.During a June 1 speech to the Economic Club of New York, Powell said, “While the recent performance of the labor market might warrant a faster pace of tightening, inflation has been below target for five years and has moved up only slowly toward 2%, which argues for continued patience, especially if that progress slows or stalls.” Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] The Best Markets For Residential Property Investors 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Trends in GSE Credit Risk Transfers

first_img Credit Risk Transfer Delinquency Rate Fitch Ratings GSEs 2019-01-08 Donna Joseph Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago January 8, 2019 1,623 Views  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: ADA Implications for Servicer Websites Next: FHA Calls on Lenders to Assist Federal Workers In its latest “GSE CRT Loss Projection” report, Fitch Ratings revealed that their reference pool loss projections have lowered on every transaction compared to their prior review in July 2018. At the “BBBsf’ rating stress level, projected losses were revised downward by an average of 15 basis points (bps) as a percentage of the remaining mortgage loan pool balance. The declining projected losses reflect strong collateral performance, increased home price appreciation, and a shorter remaining period until transaction maturity,” the report stated. The GSE CRT Loss Projection report is published every six months in January and June detailing the projections for future credit events and losses on mortgage loan pools referenced by GSE credit risk transfer transactions.The report points out to an increase in overall as well as early delinquency trends among recent transactions—a higher trajectory compared to prior vintages. It indicated the trend remains better than initial expectations even for recently issued transactions. According to the report, the average 60-plus day delinquency percentage for 60 percent to 80 percent loan-to-value (LTV) reference pools is 25bps among transactions with at least 12 months seasoning. No pool was higher than 56bps in this category, it said. For 81 percent to 97 percent LTV reference pools, the average is 44bps, with no pool higher than 90bps.Fitch also highlights a 2 percent average increase in prices since the last review in July. “The resulting lower mark-to-market LTV ratios of the reference pools have driven current loss expectations lower relative to deal closing,” the report adds. According to the report, voluntary mortgage insurance (MI) cancellations were higher than expected. “For borrowers who are eligible to cancel but have not yet done so,” the report reads, “Fitch increased the haircut to the MI benefit to reflect the possibility that they could cancel sooner than the model currently expects.” The report also indicated that all GSE CRT transactions reviewed have a hard bullet maturity date of 10 years or 12.5 years from issuance, depending on the transaction.Read the full report here. Home / Daily Dose / Trends in GSE Credit Risk Transfers The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] in Daily Dose, Featured, Market Studies, News, Servicing The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Donna Joseph Trends in GSE Credit Risk Transfers Related Articles Tagged with: Credit Risk Transfer Delinquency Rate Fitch Ratings GSEs Subscribelast_img read more

CFPB Proposes Whistleblower Award Program

first_img Demand Propels Home Prices Upward 2 days ago Tagged with: CFPB Whistleblower Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Related Articles CFPB Proposes Whistleblower Award Program Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / CFPB Proposes Whistleblower Award Program Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Previous: The Week Ahead: CFPB Updates Congress Next: Black Monday: COVID-19’s Economic Strikecenter_img The Consumer Financial Protection Bureau (CFPB) has announced that it will be engaging with Congress to advance proposed legislation that would authorize the Bureau to award whistleblowers who report violations of Federal consumer financial law.As part of the CFPB’s plan, it will also be implementing an advisory opinion program to provide clear guidance to assist companies in better understanding their legal and regulatory obligations through advisory opinions.The Bureau will be mending and reissuing its responsible business conduct bulletin, which articulates that the Bureau intends to provide credit to entities for their responsible conduct based on its extent and significance.The CFPB submitted the proposed legislative language to U.S. House Speaker Nancy Pelosi and U.S. Senate President Michael Pence, as well as the Chairs and Ranking Members of the authorizing committees in both chambers. It would amend Title X of the Dodd-Frank Act and provide authority to establish a whistleblower award program. The incentive created for employees to report wrongdoing to the Bureau will assist in advancing enforcement cases, especially as it relates to fair lending violations. Under the proposed legislation, in cases where a whistleblower provides voluntary information that leads to a successful enforcement action, the Bureau will be able to pay an award based on a percentage of the monetary sanctions collected in the action.“These steps reinforce the Bureau’s commitment to preventing consumer harm. Advisory opinions will ensure that companies know what compliance entails and what constitutes a violation. We also want to incentivize whistleblowers to contact us if they believe their employer is not complying with the law,” said CFPB Director Kathleen L. Kraninger.Under the advisory opinion program, parties will submit requests for an advisory opinion to the Bureau via its website. The CFPB will issue additional procedures for how requests will be addressed, including how the Bureau will prioritize requests. To increase transparency and to provide regulatory certainty to all regulated entities and other stakeholders, the Bureau will publish the responding advisory opinion in the Federal Register and on its website.“Responsible conduct is in the public interest. Entities that build a culture of compliance and engage in responsible conduct support consumer protection and the Bureau’s efforts to both prevent harm to consumers and enforce the law against bad actors,” Director Kraninger said. in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save CFPB Whistleblower 2020-03-09 Seth Welborn Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. March 9, 2020 910 Views The Best Markets For Residential Property Investors 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welbornlast_img read more

Pringle accuses Irish Water of using leak repair scheme to prepare for privatisation

first_img Facebook Twitter WhatsApp Facebook Previous articleGAA warn on rules changes to counter defensive set upsNext articleDerry’s youth look to end season with silverware admin RELATED ARTICLESMORE FROM AUTHOR GAA decision not sitting well with Donegal – Mick McGrath Homepage BannerNews Nine Til Noon Show – Listen back to Wednesday’s Programme Guidelines for reopening of hospitality sector published Google+ Pinterestcenter_img Calls for maternity restrictions to be lifted at LUH Google+ Twitter Pinterest NPHET ‘positive’ on easing restrictions – Donnelly A Donegal TD is claiming that Irish Water’s “First Fix Scheme” is an attempt to prepare for privatisation rather than a genuine attempt to fix leaks and improve the water network.Deputy Thomas Pringle, who previously worked for Donegal County Council’s water services says money shuld be spent carrying out a leakage programme on the public pipe network rather than on domestic connections.He says by Irish Waters own figures, the government is committed to spending €51m to address a daily loss of 20 million litres, and that’s not the most efficient use for that money………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/04/tpringleaks.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. By admin – April 1, 2015 Pringle accuses Irish Water of using leak repair scheme to prepare for privatisation Three factors driving Donegal housing market – Robinson WhatsApplast_img read more

IMPACT says Letterkenny General staff still to be paid 2013 flood compensation

first_img Google+ IMPACT Trade Union has revealed that Letterkenny hospital workers have still yet to be paid compensation for the loss of personal items destroyed in the massive flood of the hospital in July 2013.The union has said that many workers suffered damages to personal clothing and shoes as they attempted to save patients and relocate them to safety from the flooding that destroyed huge areas of the hospital.Union spokesperson Richy Carrothers says the HSE has been paid the money from the insurers and it’s unfair that it has not yet been passed on to staff:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/08/rich530FLOOD.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Minister McConalogue says he is working to improve fishing quota WhatsApp Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ RELATED ARTICLESMORE FROM AUTHOR By News Highland – August 14, 2014 Facebook WhatsApp News Dail hears questions over design, funding and operation of Mica redress schemecenter_img Twitter IMPACT says Letterkenny General staff still to be paid 2013 flood compensation Previous articleUpdate – Former Derry captain Kevin Mc Cloy in a stable condition after on pitch collapseNext articlePalestinian Ambassador thanks the people of Donegal for their support News Highland Pinterest Facebook 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitterlast_img read more