In its annual report to the CFPB, the Federal Trade Commission detailed the enforcement work it did last year in three cases dealing with mortgage assistance relief services, several of which involved alleged forensic audit scams.
The CFPB has issued its long-awaited payday lending proposed rule, in essence a highly restrictive ability-to-repay rule for small-dollar lending. Under the proposed full-payment test, lenders would be required to determine whether the borrower can afford the full amount of each payment when it’s due and still meet basic living expenses and major financial obligations.
Two industry sources confirmed this week that the Consumer Financial Protection Bureau will, indeed, begin examining for compliance with the integrated disclosure rule known as TRID this month.
Compass Point predicts that CFPB will lose its dispute with PHH. The CFPB is hosting an eRegulation webinar. HUD and First Citizens Bank (SC) resolve a fair lending complaint spurred by HMDA data. And CFPB staff exit for SunTrust and JH Capital Group.
S&P Global Ratings warned on Monday that it could downgrade the issuer credit rating of Walter Investment Management later this year due to ongoing problems at the nonbank.
Lenders reported a moderate net easing of credit standards across all loan types over the past three months, according to Fannie Mae’s second quarter 2016 Mortgage Lender Sentiment Survey released this week.
Merger-and-acquisition activity in the mortgage sector has been relatively mild so far this year, but suddenly the table has turned with a handful of deals announced over the past two weeks and some lenders publicly stating their intentions as buyers. And one thing seems certain: It appears that all of the acquisitions will be accomplished through “asset” purchases as opposed to the acquisition of stock, be it private shares or otherwise. Guild Mortgage, San Diego, inked…
A key judicial review panel recently said the Federal Housing Finance Agency’s March bid to consolidate all the Fannie Mae and Freddie Mac shareholder lawsuits and transfer them to one court was “inappropriate” and rejected the government’s request.
Fannie Mae and Freddie Mac produced $73.23 billion of single-family mortgage-backed securities in May, a solid 6.3 percent increase from April, according to a new ranking and analysis by Inside The GSEs.
RSS