Thursday , 14 January 2021

Lessons From the CFPB/Wells/Chase Order; FDIC Video on LO Comp; Training and Events

By Rob Chrisman

Posted To: Pipeline Press

Don’t forget that last Friday Ocwen Financial reached a settlement with a California regulator that will allow it to continue operating in the state. As part of a consent order with the California Department of Business Oversight, Ocwen must pay $2.5 million in penalties and agree to pay for a third-party auditor that will ensure that the firm complies with regulators’ requests for information. That is good news for Ocwen although the company continues to have its detractors. The industry continues to dissect the CFPB’s RESPA actions against Wells Fargo and Chase , and there were rumors that retail management involved in the kickback situation have been let go. (Supposedly the LOs were terminated quite some time ago. I received this note from Brian S. Levy with Katten & Temple, LLP: “Rob…(read more)

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