California’s plan to create a state-level CFPB back on the table; NCLC calls for prohibition of collection of all time-barred debts; Mr. Cooper nears settlement with the CFPB.
But another study found income overstatement commonly existed in commercial CMBS underwriting between 2013 and 2019, contributing to the rapid deterioration during the pandemic.
The one truism about mortgage banking that everyone knows: It’s a highly cyclical business that lives and dies on two central factors, interest rates and employment.
The mortgage industry can expect more enforcement actions from the Consumer Financial Protection Bureau for the rest of the year, particularly related to fair lending issues, according to stakeholders.
HUD's delinquency report shows that 11.50% of loans in the seriously delinquent category involved DPA provided by relatives, while only 9.07% of those with DPA financed by government entities were in the seriously delinquent category.