Pennymac may face prolonged “pay-to-pay” litigation after a judge rejected the company’s move to toss a borrower’s class action complaint. North Carolina homeowner Clayton Williams is suing Pennymac in federal court over the fee he was charged when he made a mortgage payment with a debit card last year. The servicer says a third-party vendor […]
Pennymac must face ‘pay-to-pay’ suit, judge rules Read More »
Key takeaway: Treasury Secretary Scott Bessent said in an appearance Wednesday that the Federal Reserve should require regional Fed presidents to reside in their districts for three years going forward. Supporting data: All 12 regional Fed presidents’ terms expire every five years and are reappointed as a bloc. The next vote on reappointing regional bank
Bessent floats residency rule for regional Fed presidents Read More »
Senate Democrats are warning the Trump administration not to cut an arcane but critical function of the Consumer Financial Protection Bureau that underpins the housing market as officials move to dismantle the agency. At issue is the CFPB’s weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the
Warren warns CFPB on its ‘half-baked idea’ for mortgage-rate data Read More »