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CFPB Continues Crackdown on False Ads to Veterans

October 30, 2020
Maria Volkova
In its ninth and largest action since July against false marketing practices targeting veterans, the bureau fined Low VA Rates $1.8 million.
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New BIA Requirement Pauses Lending on Tribal Trust Lands

October 30, 2020
Maria Volkova
The Bureau of Indian Affairs is requiring mortgage amounts to be redacted, creating a problem for government mortgage lending.
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LO Compensation Continued to Climb in the Third Quarter

October 30, 2020
Yemeng Yang

Commissions earned by LOs were up 50% in 3Q20 from a year ago, with the average LO facilitating 51% more volume...


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Forget the Mortgage IPO Craze, Nonbanks Increasingly Turn to Debt

October 30, 2020
Paul Muolo

IPOs can be expensive and complicated, but debt offerings are more of a sure thing (for the right shop)...


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Pagaya Issues First Publicly Rated Consumer ABS

October 29, 2020
Yemeng Yang
The vendor uses machine learning and artificial intelligence technology to select and purchase consumer loans from originators.
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An Earnings Homerun for the GSEs? Serious Delinquencies Rise

October 29, 2020
Paul Muolo and Dennis Hollier
The third quarter was good to the two mortgage giants, but it wasn’t completely worry-free: Serious delinquencies spiked.
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Google Launches Digital Mortgage Solution

October 29, 2020
Yemeng Yang
Google is partnering with mortgage tech vendor Roostify as it launches Lending DocAI, a digital front-end product. Mortgage tech watchers wonder just how big the search engine giant might become in mortgages.
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Court Halts HUD’s Final Disparate-Impact Rule

October 29, 2020
Maria Volkova
A last-minute injunction secured by consumer groups on Sunday has halted HUD’s revised disparate-impact rule, which makes it harder to prove discrimination.
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Washington Federal (Again) Fined for HMDA Reporting Errors

October 28, 2020
Yemeng Yang

Washington Federal has not yet been released from a 2013 consent order with the CFPB for violating HMDA and Regulation C.


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Banks Report 3Q20 Surge in Mortgage Income

October 28, 2020
John Bancroft

The second and third quarters rank among the most profitable for the sector, though merger activity and changing mortgage strategies can make comparisons to prior periods tricky...


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