A paper published by the Federal Reserve found that legal action in fair lending reduced disparities in mortgage application denials and originations between white and Black borrowers.
The CFPB will receive $134 million from CashCall after Supreme Court declines to take up the lender’s petition; bill moves forward in House that would remove the CFPB director’s voting ability on the FDIC board; NYC adopts new debt collection consumer protections.
Plaintiffs in Fairholme Funds v. FHFA, a landmark case in which a jury awarded GSE shareholders $612 million for damages resulting from the net worth sweep, seek more restitution on appeal.
Fannie Mae and Freddie Mac assured lenders that mortgages will not become ineligible for delivery solely because of the shutdown, temporarily relaxing employment verification and available reserve requirements for impacted borrowers.
By allowing the FHLBanks to once again provide credit enhancement for tax-exempt bonds, the bill’s sponsors hope it will reduce financing costs for community development in smaller municipalities.
New research — commissioned and funded by VantageScore — attempts to estimate the cost savings created by future competition between VantageScore and FICO.
The income assessment portion of Fannie’s Selling Guide has been significantly restructured, moving and rephrasing many sections, changing some policies and introducing new ones.
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