On a quarterly basis, originations will bottom out in the first quarter, according to projections by the Mortgage Bankers Association. Still, it will take a little longer for profitability to improve.

Upfront fees will decline for most low-income borrowers, but will increase for some middle-income homebuyers. The result is more cross-subsidy for the GSEs’ mission-based activities.

The first-ever open hearing of the Appraisal Subcommittee saw calls for structural reforms to the industry, changes to methodology and increased disclosures to consumers regarding reconsideration of value.

A federal bankruptcy judge in Delaware has allowed a WARN Act lawsuit involving 435 former First Guaranty Mortgage Corp. employees to proceed as a class action.

The procedures, updated for the first time since 2016, now include a way for examiners to review loss-mitigation efforts for disparate impact. They integrate questions on issues covered in recent guidance that may constitute unfair, deceptive or abusive acts or practices.

The bureau seeks to weed out one-sided terms and conditions included in contracts that consumers sign when purchasing a product or signing up for a service from a nonbank. House Financial Services Committee Chair Patrick McHenry, R-NC, slammed the proposal.

The CFPB and other regulators have been trying to prod financial institutions into treating non-English-speaking consumers with more parity to English speakers.

The Los Angeles-based lender agreed to a $31 million payout to settle charges it engaged in redlining by denying residents in majority-Black and Hispanic neighborhoods fair access to mortgage credit.

Complaints filed with the CFPB by military personnel about identity theft have increased from 234 in 2014 to 1,124 in 2022. Steady income and frequent relocation make servicemembers easy targets.

Electronic Fund Transfer Act protections apply to prepaid card accounts loaded with government benefits, according to an amicus brief filed by the CFPB in a lawsuit against Bank of America.