A majority of the witnesses testifying at a recent House subcommittee hearing voiced support for the Taking Account of Bureaucrats’ Spending Act, which would separate the CFPB from the Federal Reserve System and subject it to the regular appropriations process.

In a special edition supervisory highlights report, the CFPB revealed old and new ways in which mortgage servicers are attempting to collect unlawful fees from borrowers.

Eight Republican-sponsored pieces of legislation were attached to a recent hearing on CFPB reforms, including one that would convert the bureau’s leadership structure into a five-member commission.

The proposed business-specific requirements will supplement proposed core requirements that all nonbanks using the NMLS must fill out.

Regulation X loss-mitigation requirements are too burdensome and should be streamlined, the Mortgage Bankers Association said in a recent white paper.

In a joint statement of interest filed in the District Court of Maryland, the two regulators said a lender relying on an appraisal that it knows, or should know, is discriminatory violates both the ECOA and the Federal Housing Act.

A CFPB review of the Home Mortgage Disclosure Act shows that reporting changes instituted by the 2015 HMDA rule increased compliance costs for companies.

The CFPB said it expects servicers to proactively identify student loans that are discharged via standard bankruptcy orders.

Guilty plea on non-QM program; HUD restores discriminatory effects rule; new CRA rule soon; NY servicer must repay pandemic relief it didn’t issue; CFPB to redefine earned wage access products; mortgage broker indicted for tax fraud; CFPB reviewing MLO rules.

The correspondent share of conventional conforming edged up to 39.6% in the fourth quarter...