So far, the CFPB has fined seven VA lenders a total of $2.02 million for false and misleading advertisements. It demonstrates the bureau’s interest in protecting servicemembers and veterans, according to attorneys.
Mortgage credit supply in August fell to its lowest level in six year, driven by a reduction in supply from both conventional and government segments t, according to a recent tally by the Mortgage Bankers Association.
The FHA lowered payment history requirements for borrowers with previous forbearance to refinance their loans in order to aid the housing market. The changes are for purchase and rate-term refi loans.
Some industry groups are concerned that the CFPB’s proposal to revise general QM standards contains unclear underwriting standards and legal uncertainties. They support the development of self-governance standards for the non-agency market.
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