On Friday, Black Knight Financial released its forbearance tally, saying the measurement declined 137,000 units for the seven-day period ending Nov. 3. Roughly 2.9 million mortgagors are in some type of COVID-related relief program or 5.45% of those with a first lien...
Names of possible successors to Kathy Kraninger include two from Sen. Elizabeth Warren’s inner circle: Rep. Katie Porter and FTC Commissioner Rohit Chopra.
However, it’s not clear whether the motivations are to disempower enforcement or rationalize the integration of enforcement and supervision. Industry watchers weigh in.
Mortgage gripes filed with the CFPB increased by 5.4% in the third quarter, driven by criticisms regarding applications and closings. (Includes two data charts.)
The CFPB by and large has agreed that marketing service agreements are permissible. Companies now need to reevaluate that payments for such partnerships are of reasonable market value.
To avoid a pileup at the end of the year due to the operational challenges caused by the pandemic, state regulators have called on loan originators to renew their licenses early.
Debt collectors will finally be allowed to use modern communication technology (emails and text messages) in tracking down late payors. Consumers can opt out if they want.
The CFPB issues no-action letter to Bank of America; lawsuit against Driver Loan; SMART Payment Plan settles with the CFPB; New York Department of Financial Services outlined expectations for financial institutions to man-age climate change risks.
The calculus is straightforward: With that much capital tied up in equity, it’s difficult to see how the GSEs could generate adequate returns to attract investors.
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