Government

The lending division of Carrington Mortgage Services (CMS), LLC appointed Kathy Pilgrim as branch manager of the company's branch in Duluth, Georgia.

Republic Mortgage Insurance Corporation faces a $100,000 fine and enhanced supervision by the Consumer Financial Protection Bureau for allegedly offering illegal kickbacks to lenders in return for business referrals, according to an announcement from CFPB. "The CFPB believes that RMIC provided kickbacks to mortgage lenders by purchasing captive reinsurance that was essentially worthless but was designed to make a profit for the lenders," the bureau said in its announcement.

Diane Nordin, a seasoned asset management executive, has joined Fannie Mae's board of directors, the company announced.

LoanLogics, a company specializing in loan quality management and performance analytics technologies for the mortgage industry, announced it has raised $11.2 million in funding from growth equity firm Volition Capital and existing investors.

Carrington Property Services announced it is taking over property management responsibilities on rental properties owned by capital management firm Gorelick Brothers Capital.

In an effort to offer further support to the mortgage brokerage and correspondent lending communities, Texas-based 360 Mortgage Group announced the launch of a new aggressive pricing model on all currently offered mortgage products.

Pacific Union's CEO, Mark A. McLaughlin, was named as the recipient of the 2013 RISMedia Real Estate Leadership Award, a national award recognizing members of the real estate community who embrace innovation and blaze new trails.

The Consumer Financial Protection Bureau (CFPB) issued Wednesday an Advance Notice of Proposed Rulemaking on guidelines related to the debt collection industry. "For decades, many consumers have reported various unacceptable practices in the debt collection industry. Today's action will allow us to hear from the public as we consider what rules are needed," said Richard Cordray, director of the CFPB. The bureau also announced it will begin adding consumer complaints about debt collections to its public database.

Bill Griffin, EVP at Lender Processing Services (LPS), has been elected to serve on the Mortgage Bankers Association's (MBA) board of directors, the company announced.

Citing concerns about the costs of force-placed insurance for the GSEs and consumers alike, the Federal Housing Finance Agency (FHFA) on Tuesday directed Fannie Mae and Freddie Mac to prohibit servicers from taking reimbursements from insurers providing forced policies. Fannie Mae and Freddie Mac will provide aligned guidance to sellers and servicers to prohibit these practices, including implementation schedules. In addition, acting FHFA director Edward DeMarco announced the agency is considering further measures.