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CFPB Invites Public Comment on Disclosure Testing

November 4, 2019
Yemeng Yang
The bureau is seeking reapproval for its modified disclosure testing plan to allow industry stakeholders an opportunity to comment. The move indicates that the test results can influence CFPB’s rulemaking.
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New QM Rule Should Level the Playing Field: FHFA

November 4, 2019
Yemeng Yang
The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to provide assistance toward the development of new qualified mortgage standards.
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NYDFS Investigates Foreclosure Fraud

November 4, 2019
Yemeng Yang
New York’s governor recently directed the New York State Department of Financial Services to investigate instances of alleged mortgage deed fraud in Brooklyn.
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Other News in Brief

November 4, 2019
Yemeng Yang

The CFPB will hold a symposium Wednesday to discuss data collection on small business lending; Supreme Court sets briefing schedule in Seila Law v. CFPB.


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Lawmakers Debate LGBTQ and HMDA Data Collection

November 4, 2019
Yemeng Yang
Rep. Patrick McHenry of North Carolina questioned whether the collection requirements under HMDA contribute to lending discrimination towards the LGBTQ community.
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Study Shows Impact of CFPB High-Cost Mortgage Rule

November 4, 2019
Yemeng Yang
A recent study found that a substantial portion of lenders reduced interest rates to avoid being subject to the CFPB regulation regarding high-cost mortgages.
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Senators Urge CFPB to Investigate Student Loan Servicer

November 4, 2019
Yemeng Yang
Nearly two dozen Democratic senators urged the CFPB to immediately open an enforcement investigation into a servicer’s management of a student loan forgiveness program.
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HECM Programs Need an Overhaul

November 1, 2019
Yemeng Yang
Government-insured reverse mortgage programs should offer simple and streamlined products in order to become more attractive to elder borrowers, according to the Brookings Institution.
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GSEs See Sequential Profit Gains, Spike in Capital

November 1, 2019
Paul Muolo
Fannie and Freddie once again posted strong earnings but the results would have been even better if not for large hedging charges. (Includes data chart.)
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Disparate Impact, a Missing Piece in Fair Lending?

November 1, 2019
Yemeng Yang
The CFPB nowadays is less active in addressing fair lending concerns via enforcement actions, particularly in cases relating to disparate impact. The bureau did not initiate or complete a single fair lending enforcement action from October 2018 to March 2019.
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