In May of last year, then acting Director Mick Mulvaney threatened to end public access to the CFPB’s consumer complaint database, calling it “a Yelp run by the federal government.” He issued two requests for information about complaint reporting and handling processes.But it’s been nearly a year since then, and the bureau still hasn’t decided what it should do with the complaint database.
The Office of Inspector General for the CFPB in a new report revealed that the bureau inadvertently scheduled examinations of non-banks that were outside its supervisory jurisdiction, burdening the firms and wasting the agency’s resources.
The public release of the significantly expanded loan-level data reported by lenders has sparked fear among industry participants of increased scrutiny from regulators and public interest groups.
Consumer complaints filed with the CFPB continued on a downward path in the first quarter, according to a new analysis by Inside the CFPB. [Includes one data chart.]
State regulators are enhancing their scrutiny of financial firms, particularly with regard to debt collection and fair lending, given the perceived pullback from the CFPB, state officials and experts said while speaking at a conference hosted by the Consumer Bankers Association last week.
Late Thursday, the Senate voted to approve Mark Calabria as the permanent director of the Federal Housing Finance Agency by a vote of 53 to 44 along party lines. A few senators did not cast ballots. But don’t look for this free-market economist to quickly make radical changes to how Fannie Mae and Freddie Mac operate. The first thing to watch is whether Calabria allows them to build more capital…Non-QM lender Citadel Servicing Corp., Irvine, CA, originated $475 million in ...
The sale of non-qualified mortgage lender and securitizer Deephaven Mortgage, Charlotte, NC, appears to be on the back burner for now, according to sources tracking the deal. “There was an auction, a bid, but it didn’t meet their price,” said one executive who claimed to have knowledge of the transaction. This source, requesting anonymity, maintains that at one point there were at least 20 different investors expressing an interest in Deephaven but it’s unclear how many had a copy of ...