Regulators Look to Wrap Up Rulemaking Agendas July 18, 2024 Shannon Clark The slowdown is part of a typical trend seen at federal regulators prior to a presidential election.Read More
HUD Charges Rocket With Appraisal Bias, Settles With TAF July 18, 2024 Monica Hogan The Department of Housing and Urban Development charged Rocket Mortgage with appraisal bias in connection with a denied refinance application. loanDepot settled a similar charge with the CFPB this year.Read More
Fannie Mae Survey Reveals Mortgage Misconceptions July 18, 2024 James Dohnert A new Fannie Mae study finds that consumers think mortgage underwriting requirements are more stringent than they truly are.Read More
CFPB Proposes Updates to Regulation X Servicing Standards July 15, 2024 Shannon Clark The proposal includes some aspects supported by both servicers and consumer advocates and some provisions that could see pushback from servicers.Read More
CFPB’s Townstone Lawsuit Sent Back to Lower Court July 15, 2024 Shannon Clark In a major victory for the CFPB, the appeals court decision reverses a prior ruling by a district court, reinstating the ECOA lawsuit.Read More
CFPB Likely to Undergo Regulatory Shift Post-Chevron Decision July 15, 2024 Shannon Clark CFPB rules are likely to face challenges and the bureau may shift to using enforcement actions as a form of policymaking.Read More
Bureau Plans Few Proposed Rules in Next Year July 15, 2024 Shannon Clark Only four proposed rules are on track to come from the CFPB by May 2025, according to the latest regulatory agenda.Read More
CFPB Dives Into Gaps in HMDA Data Reporting July 15, 2024 Shannon Clark The bureau found increasing instances of inaccurate reporting under the Home Mortgage Disclosure Act. Two lenders also faced fines recently.Read More
CFPB Reveals Difficulties in Loss-Mitigation Assistance Process July 15, 2024 Shannon Clark Borrowers struggled to access the repayment assistance and loss mitigation they needed during the pandemic, according to the CFPB.Read More
Bureau Examiners Find UDAAP Violations in Servicing July 15, 2024 Shannon Clark The bureau’s summer edition of Supervisory Highlights provided insight on exams involving auto loan servicing and student loan servicing.Read More