Tag Archives: Regulation

Regulations in the housing market are not only an added responsibility for mortgage companies, but it seems that compliance costs are spilling over into American households.

Ocwen’s Chief Compliance Officer, Michael Hollerich, sat down exclusively with MReport to discuss compliance trends in the mortgage industry and how the nonbank servicer is creating a revitalized culture of compliance.

Although it may seem like large lenders are the only ones that are on top of their game, there is another group of institutions that are making their mark in the industry. Editor's note: This select print feature appears in the February 2016 edition of MReport magazine, available now.

Last night, former Secretary of State Hillary Clinton and Bernie Sanders went toe-to-toe in a Democratic debate and ultimately revealed that the two have vastly different viewpoints on how to rein in large financial firms.

The heavily-regulated mortgage environment has caused technology innovation to become a new focal point of many businesses within this space. John Guzzo, Managing Director in the Financial Technology Group at Berkery Noyes sat down with MReport to share his insight on how technology is changing the mortgage industry.

Northwest Federal Credit Union President and CEO Chris McDonald discuss some of the hot-button issues affecting credit union in today's mortgage industry. Editors Note: If you want to read more about what today’s top credit union executives have to say about their businesses, be sure to catch the February 2016 print edition of MReport, where hot topics affecting credit unions will be explored in-depth.

According to Freddie Mac, in the five year-period between 2008 and 2013, the cost of servicing a performing loan increased 2.6 times (from $59 to $156).

Hensarling went on to say that Dodd-Frank exemplifies the "insidious belief" among those in Washington that the American people cannot be trusted to make financial decisions, so Washington must do it for them.

The hearing, entitled "Regulatory Relief for Community Banks and Credit Unions," was a gathering of the committee's lawmakers to discuss the effect of recent regulatory burdens placed on smaller banks and credit unions in response to the financial crisis.

California's Department of Business Oversight is moving to halt Ocwen's operations in the state after the company failed to provide documentation about its compliance with California's Homeowner Bill of Rights. With the latest news, Ocwen is off to a less than promising start to 2015 after concluding what was a rocky 2014.