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Texas Capital Bank Announces Agreement to Sell Its Mortgage Servicing Rights Asset to PHH Mortgage
Texas Capital Bancshares, Inc.April 21, 2021 GMT
Reinforces Commitment to Mortgage Finance, Mortgage Warehouse and Specialty Lending
Next Step in Optimizing Balance Sheet and Enhancing Focus on Core Growth Drivers
DALLAS, April 21, 2021 (GLOBE NEWSWIRE) Texas Capital Bank, N.A., referred to herein as “Texas Capital Bank” or the “Company,” today announced that it has entered into an agreement with PHH Mortgage (“PHH”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN), under which PHH will purchase, in a bulk sale, the Company’s portfolio of Mortgage Servicing Rights (“MSRs”) attributable to a mortgage loan portfolio approximating $14 billion. In a related Letter of Intent, PHH has also confirmed it will extend employment opportunities to many of the Company’s
Friday, April 9, 2021
SEC Announces 2021 Examination Priorities
The SEC’s Division of Examinations (Division), formerly known as the Office of Compliance Inspections and Examinations (OCIE), released its 2021 examination priorities. In its release, the Division noted that it completed over 2,952 examinations in 2020 and issued more than 2,000 deficiency letters. Approximately 15% of all registered investment advisers were examined during 2020 and the Division completed more than 100 examinations of investment companies. The Division also conducted hundreds of outreach calls to investment companies and advisers to assess market impacts of the COVID-19 pandemic. The 2021 priorities are grouped into the following categories, each of which is described below in more detail: