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Volume 18 - Number 10

May 16, 2014

Occupancy Fraud a Concern for Lenders and CFPB

The increased incidence of occupancy fraud by borrowers in 2013 poses risks for lenders, but the industry also needs to be aware that the Consumer Financial Protection Bureau is on the lookout for lenders that facilitate occupancy fraud as a way to avoid the CFPB’s ability-to-repay rule. Occupancy fraud risk increased by 24 percent in 2013, according to Interthinx, a firm that provides fraud prevention services. “In previous years, when refinances dominated the market, we saw higher ...

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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