FHA has tweaked its mortgage scorecard to address concerns surrounding loans with higher-risk characteristics such as cash-out refinances and high debt-to-income ratios.
Ginnie Mae issuers produced just $22.84 billion of new mortgage-backed securities in February, the lowest monthly total in nearly five years, according to a new Inside FHA/VA Lending analysis. [Includes two data charts.]
CFPB to Hold Spring 2019 Advisory Committee Meetings; FTC Sends Annual Report to CFPB With ECOA Activities; Consumer Groups Seek CFPB Records on Eric Blankenstein; CFPB Warns of Widespread Elder Financial Abuse; CFPB Announces System for Prepaid Issuers to Submit Account Agreements.
The CFPB last month filed its first lawsuit under the leadership of Kathy Kraninger. Interestingly, the lawsuit seeks to enforce a 2017 civil investigative demand that was issued under former Director Richard Cordray.
The CFPB is calling upon financial institutions to submit a self-assessment of their diversity and inclusion activities, according to the law firm Ballard Spahr.
In a letter to CFPB staff recently, Rep. Maxine Waters, D-CA, chairwoman of the House Financial Services Committee, urged employees to blow the whistle on agency leaders.
The CFPB has sought insight and opinion from market participants on origination and underwriting processes for Property Assessed Clean Energy financing as it prepares to under-take rulemaking.
The CFPB should open up a policy discussion about a tiered supervision structure of smaller independent mortgage banks, according to industry trade groups.
Republicans on the House Financial Services Committee in a hearing last week rebutted a proposed bill undoing changes made by former CFPB acting Director Mick Mulvaney.
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