The CFPB has made it clear that it’s not buying income share agreement providers’ argument that their products are not loans and hence they don’t have to comply with consumer protection laws.
Reinstating a class action, Maryland’s Court of Appeals noted that the limitation placed on a lender from charging property inspection fees under the state’s usury law also applies to assignees of the mortgage.
The state regulator is taking notice of disparities in mortgage approvals and denials and terms of mortgage credit between same-sex and opposite-sex pairs.
The CEO detailed a variety of plans, from establishing asset management operations to venturing into home-equity products and expanding its footprint in business-purpose lending.
The House Committee on Veterans’ Affairs removed from a hearing agenda a draft bill that would have allowed veterans two concurrent uses of a VA guarantee entitlement.
The House Committee on Financial Services last week marked up legislation that would devote $322 billion in funding to affordable housing, including for a pilot program to expand small-dollar lending options for homes that cost up to $100,000.
During a recent conference, officials from government agencies spoke about their responses to the COVID-19 pandemic and the top challenges facing them next year.
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