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SEC Evaluates FINRA Rule Shortening MBS, ABS Reporting Timeframe

May 9, 2024
Brandon Ivey
If the rule is adopted, ABS and MBS reporting timeframes will tighten.
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CFPB-Submitted Consumer Complaints Reach Historic High in Q1

May 9, 2024
Shannon Clark
Credit reporting issues took the top spot for consumer complaints submitted in the first quarter.
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Mortgage Industry Disputes CFPB Report on ‘Junk Fees’

May 6, 2024
Shannon Clark
The CFPB’s latest push on mortgage servicing fees could be the start of more to come, according to industry attorneys.
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Iowa Adopts CSBS Standards for Mortgage Servicers

May 6, 2024
Shannon Clark
New standards for nonbank mortgage servicers will go into effect in Iowa on July 1. While only a handful of states have adopted the CSBS model standards, substantially all large nonbank servicers are covered.
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Study Shows Foreclosure Delays Foster Sustained Economic Recovery

May 6, 2024
Shannon Clark
Temporary foreclosure delays instituted by the CFPB during the pandemic helped both borrowers and the economy, according to a new paper presented at a CFPB conference last week.
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CFPB Touts Credit Card Offerings by Small Banks

May 6, 2024
Shannon Clark
The bureau is providing guidance on ways small banks can increase their presence in the credit card industry.
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Navient Moves Additional Funds to Reserves for CFPB Lawsuit

May 6, 2024
Shannon Clark
The student loan servicer is expecting to take losses from a 2017 CFPB lawsuit.
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DOJ Charges Two New Jersey LOs With Mortgage Fraud

May 6, 2024
Shannon Clark
The loan officers are accused of defrauding banks and the nonbank lender they worked for by falsifying borrowers’ occupancy status on mortgage applications.
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Other News in Brief

May 6, 2024
Shannon Clark
Texas district court ordered to make quick ruling in CFPB credit card late fee lawsuit; the American Bankers Association pushes back on CFPB report targeting fees associated with health savings accounts; former Nutter Home Loans executive launches regulatory management firm.
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Can the GSEs Ever Earn Enough Money?

May 3, 2024
Dennis Hollier
Even though Fannie Mae and Freddie Mac maintained healthy profits in a tough market in the first quarter, their capital shortfalls under the ERCF remained absurdly high. (Includes data table.)
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