The CFPB recently provided informal guidance in the form of frequently asked questions, addressing issues related to the integrated mortgage disclosure rule.
Congressional lawmakers are placing credit bureau reform in the spotlight with a hearing scheduled before the House Financial Services Committee this month.
The CFPB may scrap the underwriting requirements of its 2017 payday lending rule, according to a proposal released last week. In the meantime, the rule’s compliance date has been pushed back to Nov. 19, 2020, from Aug. 19, 2019.
Riverside, CA-based Provident Savings Bank this week pulled the plug on its residential mortgage banking operation, citing a “highly competitive” operating environment and “market conditions.” The unit, Provident Bank Mortgage, is a $1.0 billion a year producer.
Almost across the board, conventional and government lenders took it on the chin in terms of originations last year, but two of the largest producers of non-qualified mortgages — the Angel Oak family of companies and Citadel Servicing Corp. — excelled.
Federally regulated financial institutions must accept private flood insurance on loans secured by properties in special flood hazard areas, according to a partially approved inter-agency final rule.
The New York Department of Financial Services last week rejected Fidelity National Financial’s application to acquire control of Stewart Information Services’ NY-based title insurance company.
The share price of mortgage software giant Ellie Mae took off like a rocket early this week after rumors began swirling around the industry that the company is pondering a sale.
Sen. Mike Crapo, R-ID, chair of the Senate Committee on Banking, Housing, and Urban Affairs, stirred the housing-finance reform pot last week, releasing a plan to bring Fannie Mae and Freddie Mac out of conservatorship.
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