Fewer than 3,000 people have been convicted of federal mortgage fraud over the past 12 years and most didn’t serve the maximum sentence, according to an industry researcher.

While the trade group still submits formal comment letters, sometimes faster action is needed, such as a text from MBA President and CEO Bob Broeksmit to an administration official.

The potential staff cuts are tied to the bureau’s reduced funding for fiscal year 2025, which takes effect Oct. 1.

Changes to the examination manual were made to align with an executive order from President Trump.

FHFA Director Bill Pulte raised concerns about unidentified risks posed by credit unions to financial markets.

Higher vehicle and auto part prices are deterring new auto sales, according to Moody’s Ratings.

Even if the Trump administration initiates a massive reduction-in-force at the CFPB, industry attorneys believe the bureau won’t shut entirely and will still be able to do its job.

Nevada last month became the second state to adopt a model act that creates specific safe harbors for common mortgage modifications.

Even though an appeals court lifted the block preventing mass layoffs at the CFPB, a drastic reduction-in-force may not happen immediately, attorneys said.

The Trump administration is reducing regulation of nonbank lenders, leaving the task to state regulators.