The mortgage servicer will pay at least $25 million in cash and provide some $200 million in debt relief to borrowers to resolve a range of alleged violations. But Ocwen will also be allowed to resume acquiring servicing rights in the nation's largest state.
Given the number of new - and enhancements to existing - regulations planned over the next few years, financial institutions will come under increasing pressure to evidence these compliance obligations by either re-using client data and documentation already held or conducting a fresh collection of data / documents from clients to ensure compliance (or what is known as Regulatory Client Outreach).This white paper explores a best practice approach to performing regulatory client outreach by automating certain aspects of the client management process. The paper outlines a 4-step process to achieving automation and associated efficiencies for regulatory client outreach.
The Consumer Financial Protection Bureau's temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency's director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster.
Steven Mnuchin was selected for Treasury Secretary because of his experience at Goldman Sachs and OneWest Bank. But Mnuchin is also known in Hollywood as a "money man." Following are selected films from his many credits.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
Trust and transparency can be strengthened and like-minded borrowers and banks can be brought together if transactions are “tagged” and investments are explained, argues Bruce Cahan, adjunct professor at Stanford University.