Contrary to the Trump administration’s statements in court, CFPB Acting Director Russell Vought said the bureau will be shut down within the next two to three months.

The Mortgage Bankers Association is concerned that New York’s Community Reinvestment Act plans will place restrictive limits on CRA credit for purchased loans.

While trade groups representing banks are seeking a major overhaul of the current rule, fintechs said the rule preserves the principle that financial data belongs to consumers and not banks.

The trade groups want the Supreme Court to intervene and correct a lower court’s ruling that creates uncertainty regarding Fair Housing Act liability in the mortgage industry.

The financial technology company was accused of overcharging servicemembers and their dependents, and refusing to allow customers to exit its membership programs and stop paying monthly fees.

Mortgage compliance dataset is nearing implementation; CFPB ends consent order with Citibank three years early.

Fannie Mae Chief Operating Officer Peter Akwaboah will serve as acting CEO, pending a search for Priscilla Almodovar’s successor. EVPs Brandon Hamara and John Roscoe will serve as co-presidents.

Mortgage industry stakeholders pump the breaks on GSE reform while the administration still seems to have its foot on the gas.

Allowing the GSEs, under certain conditions, to purchase up to $300 billion in agency MBS each could reduce mortgage rates by as much as 30 basis points, lender groups say.

Because VantageScore 4.0 typically yields higher credit scores than Classic FICO, it’s possible lenders will choose VantageScore, leading to higher scores and lower LLPA revenues.