Although nonbank advocates have long argued for FHLBank membership, new proposals from the Urban Institute address key challenges.

Sellers repeatedly using contract-for-deed financing must assess a borrower’s ability to repay a loan and provide disclosures, the CFPB said in a new advisory opinion.

A Fannie survey of recent homebuyers shows a growing interest in digitizing the homebuying process. That includes finding a home, getting a mortgage and filling out the closing documents.

Consumer ire toward financial services and products doesn’t seem to be abating, with complaints to the CFPB hitting a record high in the second quarter of 2024. (Includes two data tables.)

Mortgage industry trade groups want the bureau to explore the repercussions on markets and consumers of any new rule or regulation concerning mortgage closing costs.

Industry trade groups cautioned the CFPB that limits on mortgage closing costs could be beyond the bureau’s authority.

Mr. Cooper Group’s Nationstar Mortgage is under fire for allegedly collecting payoff statement fees not included in the original mortgage contracts.

While companies will inevitably have to reduce costs, industry analysts stress that it’s important that compliance policies and system remain updated and in-place.

Some banks continue to press the CFPB for a reporting exemption for small banks as the rule will create additional burdens on these banks who may get frustrated and end up selling or closing their businesses.

The bureau is partnering with the Treasury Department and the Federal Trade Commission to stop illegal practices in the solar industry.