Consumer complaints regarding credit reports and student loans dramatically increased in 2022. Meanwhile, gripes about mortgages and debt collection declined. (Includes two data charts.)

The CFPB sued Chicago-based Townstone Financial in 2020, alleging that statements made on its radio show discouraged Black prospective applicants from applying for mortgage loans.

Lenders looking to boost mortgage originations with marketing services agreements need to heed RESPA standards, according to compliance attorneys.

The appeals court, agreeing with a district court, tossed out a putative class action against Denver-based Specialized Loan Servicing, noting that the subservicer’s credit reporting was accurate and in compliance with fair lending laws.

The CFPB proposal includes lowering the safe-harbor late fees companies can charge consumers and seeks to eliminate automatic annual inflation adjustment of the safe harbor.

The Ninth Circuit Court of Appeals vacated and remanded a district court order that sided with the CFPB over mortgage payment company Nationwide Biweekly Administration.

CFPB Director Rohit Chopra reiterated his long-held argument that automation alone cannot remove bias from home appraisals. Others discussed actions to address appraisal bias.

CFPB to collect rental market data, issue background check guidance; banking regulators won’t enforce against newly-covered HMDA reporters.

Townstone argued that the ECOA’s prohibitions on discrimination against applicants don’t apply to prospective applicants.

Uncertainty caused by regulations and the complexity of calculating income and debt make DTI a poor metric to use in pricing a loan without the risk of lenders having to eat a new fee.