The CFPB will announce changes to its consent order termination policy, making it easier for firms to get out from under post-enforcement monitoring, agency Director Kathy Kraninger said in a recent speech. She also hinted at a few other soon-to-be-announced items.
Two Democratic senators are pressing for a CFPB examination of the Apple Card's underwriting standards, while demanding information about the agency's enforcement of fair lending standards.
The CFPB's recent report on mortgage servicers seems to state the obvious: the biggest shops dominate the residential loan processing market, and nonbank market share is growing.
The CFPB's latest regulatory agenda lays out its priorities for next year, including action on the qualified mortgage "patch" and changes to the residential data reporting rule.
Temporary operating authority for loan officers moving from one state to another is now the law of the land. However, origination firms need to pay attention to potential compliance risks, investor appetite, and state-specific requirements.
Should nonbank mortgage firms be allowed to join the FHLB system? Hard to say, but if they gain access, the business of warehouse finance could be turned on its head. Or maybe not.
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