The bureau said many homeowners reported that their servicers pushed them to take on new, higher-interest loans instead of keeping their existing mortgage.

The rule mandated under the Economic Growth, Regulatory Relief and Consumer Protection Act received approval from groups representing mortgage lenders and consumer advocates. PACE lenders, meanwhile, have concerns.

JPMorgan Chase, Wells Fargo and Bank of America have been accused of failing to protect consumers from fraud on Zelle, a peer-to-peer payment network.

CFPB sues Walmart and Branch Messenger; CFPB report uncovers illegal practices in the student loan market; CFPB sends warning to credit card rewards programs about illegal practices; CSBS proposes changes to mortgage call report.

Among the allegations: Vanderbilt approved a loan for a family with 33 debts in collection...

The jump in refinance business, and a shift from cash-out to rate-term transactions, changed the credit-risk profile for Fannie and Freddie in the fourth quarter.

Commercial banks and savings institutions reported another decline in the volume of mortgages they repurchased in the third quarter of 2024. PNC Bank accounted for the largest chunk of the bank industry’s repurchases, at 11.3%.

Lenders are planning to take a more hands-on approach in 2025 due to the purchase-heavy environment expected this year.

The quality control team at Fannie Mae identified “red flags” that could indicate borrowers have mischaracterized whether they’re seeking a mortgage for a primary residence or for a second home or investment property.

A new FHFA working paper examined factors that influence borrowers’ decisions on whether they should pursue forbearance when facing financial distress.