In a surprise move, loanDepot Executive Chair Anthony Hsieh has stepped down, though he remains as chairman. What’s clear: The LD founder is not a happy camper, as insiders sell stock and the firm’s fortunes fade.

Ruling in a redlining case filed by the CFPB against a nonbank mortgage lender, a district court judge said Equal Credit Opportunity Act prohibitions do not extend to prospective applicants.

Patrick McHenry, R-NC, new chair of the House Financial Services Committee, is viewed as a consensus-maker. But will his politics make it difficult to find common ground with the White House and Senate?

The National Consumer Law Center has called for flexibility in FHA’s property charge loss-mitigation policies, among other changes.

Albrecht cited “increased costs for technology and staff to handle dramatically higher regulatory demands from multiple states and the feds.”

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.