Frank A. Mayer, III Quoted in Inside Mortgage Finance on CFPB HUD Probes of Captive MI Reinsurance
Friday, August 10, 2012
Pepper partner Frank A. Mayer, III was quoted in the August 10, 2012 issue of Inside Mortgage Finance in the article, "CFPB Proceeds with HUD Probes of Captive MI Reinsurance, with Private MIs in the Crosshairs."
Civil investigative demands, or CIDs, sent to several private MIs “mean that that the bureau’s enforcement division has launched a preliminary probe of the matter,” said attorney Frank Mayer, a partner in the financial services regulatory and enforcement practice group with the Pepper Hamilton law firm in Philadelphia. “The investigations could result in civil charges against the companies, or might be resolved without any formal action.”
The article is available online with a subscription, http://www.insidemortgagefinance.com/issues/imfpubs_imf/29_32/latest_data/CFPB-Proceeds-With-HUD-Probes-of-Captive-MI-Reinsurance--1000020411-1.html.