Nearly a year since the CFPB filed a notice of charges against New Jersey mortgage lender PHH Corp., and its subsidiaries for alleged illegal captive reinsurance activities, a final decision soon will be made on an administrative law judge’s recommendation that the companies be deemed guilty of violating RESPA and pay almost $6.5 million in disgorgement. Will 2015 be the year that the 20-year-old debate over captive reinsurance is finally is settled? Read on to find out how we got here, what’s going on right now and where we may be headed with regard to captive reinsurance.
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