Fannie Mae recently provided sellers with a little more guidance on its expectations related to lender self-reporting of errors in complying with the CFPB’s new disclosure regime under the Truth in Lending Act and the Real Estate Settlement Procedures Act.

The 11th annual Xerox Path to Paperless Survey finds what appears to be an accelerated pace toward making the paperless mortgage a reality. And the CFPB’s integrated disclosure rule known as TRID is apparently helping.

Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee, rolled out some of the details of a Republican proposal to replace the Dodd-Frank Act, the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs) Act. The proposal includes the text of a measure already passed by the House, which would provide a QM safe harbor for any mortgage that has been held in portfolio by a depository institution since origination.

House Financial Services Committee Chairman Jeb Hensarling, R-TX, detailed in a speech a proposal that House Republicans have been working on that would replace the Dodd-Frank Act, including some important changes that would scale back the powers of the CFPB. The bill would shift the agency’s mission to include both consumer protection and maintaining competitive markets, with a cost-benefit analysis of rules performed by an Office of Economic Analysis. Also, it would replace the current single director with a bipartisan, five-member commission which would be subject to congressional oversight and appropriations.

The CFPB filed suit against Intercept Corp., a third-party payment processor located in Fargo, ND, and two of its executives for allegedly enabling unauthorized and other illegal withdrawals from consumer accounts by their clients. The CFPB alleges that Intercept and the executives violated the Dodd-Frank Act’s prohibition against unfair acts and practices by processing payments for clients without adequately investigating, monitoring or responding to red flags that indicated some clients were breaking the law or deceiving customers.

In its annual report to the CFPB, the Federal Trade Commission detailed the enforcement work it did last year in three cases dealing with mortgage assistance relief services, several of which involved alleged forensic audit scams.

The CFPB has issued its long-awaited payday lending proposed rule, in essence a highly restrictive ability-to-repay rule for small-dollar lending. Under the proposed full-payment test, lenders would be required to determine whether the borrower can afford the full amount of each payment when it’s due and still meet basic living expenses and major financial obligations.

Two industry sources confirmed this week that the Consumer Financial Protection Bureau will, indeed, begin examining for compliance with the integrated disclosure rule known as TRID this month.

Compass Point predicts that CFPB will lose its dispute with PHH. The CFPB is hosting an eRegulation webinar. HUD and First Citizens Bank (SC) resolve a fair lending complaint spurred by HMDA data. And CFPB staff exit for SunTrust and JH Capital Group.

S&P Global Ratings warned on Monday that it could downgrade the issuer credit rating of Walter Investment Management later this year due to ongoing problems at the nonbank.