During recent congressional hearings, CFPB Director Rohit Chopra said the bureau is weighing whether to issue more credit reporting rules under the Fair Credit Reporting Act.

The settlement includes fines and remediation to resolve allegations over customer abuses related to mortgage and auto loan servicing.

State AGs weigh in on CFPB’s Supreme Court appeal; HMDA filing period opens; Community Reinvestment Act thresholds updated; CFPB asks for dismissal of UDAAP lawsuit; CFPB, FTC argue furnishers must investigate legal disputes; bureau penalizes remittances provider.

Rate locks declined in December and loan applications fell to levels last seen in 1996. Interest rates are to blame. Economists offer some glimmers of hope for the second half of the year.

Rising interest rates took a bigger bite out of private MI activity than FHA business in the fourth quarter of 2022. On an annual basis, primary MI activity fell, based on agency MBS issuance, though issuance volume involving loans without MI was off by even more. (Includes two data charts.)

The share of homebuyers using all cash to purchase homes rather than a mortgage is increasing. Some affluent homebuyers are avoiding purchase mortgages due to high interest rates.

The New York Department of Financial Services proposed guidance for nonbanks and state-regulated banks outlining standards for managing material climate-related financial risks. Organizations’ efforts should be proportionate to their exposure and shouldn’t interfere with fair lending obligations.

Designating the appropriate SOFR-related benchmark rates for GSE products is one of the last major steps in the transition from LIBOR.

Despite extensive efforts to combat the use of biased valuations, FHFA does not refer appraisers to state licensing boards for investigations or reprimand.

The rule requires the enterprises to submit a written notice of any new activity for FHFA to review. However, they can consult with the agency in advance to determine if such a notice is required.