The Office of the Comptroller of the Currency last week went it alone to finalize its Community Reinvestment Act overhaul. The final rule would restore the geographic distribution test for mortgage lending.

New legislation, which passed the California Assembly Banking and Finance Committee last week, would create “duplicative and sometimes contradictory requirements” for the mortgage industry when viewed alongside federal rules, industry groups warned.

A new COVID-19 payment deferral option provided by Fannie Mae and Freddie Mac that doesn’t require borrowers to submit a complete response package may lead to violations under the CFPB’s loss-mitigation rules, attorneys cautioned.

The CFPB resumed its public enforcement activities this month with settlements with Specialized Loan Servicing and Monster Loans.

The CFPB recently issued guidance to provide flexibility to credit card issuers in resolving billing disputes with small businesses impacted by the coronavirus pandemic.

Mortgage servicers can use the template to apply for a no-action letter to cover their use of Brace Software for online loss-mitigation applications.

The CFPB and the Conference of State Bank Supervisors jointly issued a consumer relief guide detailing borrowers’ rights under the CARES Act.

The bureau recently issued two factsheets addressing transaction coverage and appraisal delivery requirements under the Equal Credit Opportunity Act’s valuation rule.

Some 4.7 million Americans are under a pandemic-related forbearance plan. However, the pace of new requests seems to have slowed.

While Zillow has restarted iBuying in Phoenix, Tucson, Raleigh and Charlotte, Opendoor has resumed acquisitions in Raleigh and Phoenix.