PHH's Mortgage Insurance Practices Under CFPB Scrutiny

Law360, New York (January 10, 2012, 4:40 PM EST) -- The Consumer Financial Protection Bureau is investigating mortgage services company PHH Corp. over the legality of mortgage insurance premium ceding practices to its captive reinsurers, PHH said in a regulatory filing Tuesday.

The CFPB notified PHH about the investigation this month and has requested certain documents and information for review, the company said in the filing with the U.S. Securities and Exchange Commission. The bureau is looking to determine if the practices comply with the Real Estate Settlement Procedures Act and other laws that it enforces,...
To view the full article, register now.