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CFPB Allows Borrowers to Modify Waiting Periods

May 11, 2020
Yemeng Yang
Consumers facing pandemic-related financial emergencies can seek modifications or waivers regarding certain waiting period requirements under the TILA-RESPA Integrated Disclosure and Regulation Z rules.
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CFPB Urges FCC to Allow Certain COVID-19 Robocalls

May 11, 2020
Yemeng Yang
Several trade and consumer groups are lobbying the Federal Communications Commission to exempt robocalls regarding forbearance options during the pandemic from the Telephone Consumer Protection Act.
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Demand for Consumer Credit Turned Sluggish in March

May 11, 2020
Yemeng Yang
Applications for purchase mortgages dropped by 27% in the last week of March compared to the first week of the month. The decline was more pronounced among consumers with higher credit scores.
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Democrats Want HMDA Reporting Suspension Lifted

May 11, 2020
Yemeng Yang
Lawmakers, led by Sen. Sherrod Brown, D-OH, are urging Director Kathy Kraninger to not weaken the bureau’s ability to identify discriminatory lending patterns, particularly during the pandemic.
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CFPB Appointees Accused of Manipulating Payday Rule

May 11, 2020
Yemeng Yang
A former economist at the CFPB on his last day accused Trump appointees at the bureau of manipulating the research process to justify the payday lend-ing rule overhaul, according to a leaked memo.
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Fair Lending Obligations Under PPP Reiterated

May 11, 2020
Yemeng Yang
The CFPB reminded lenders to ensure compliance with fair lending obligations when handling applications under the Paycheck Protection Program.
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Other News in Brief

May 11, 2020
Yemeng Yang
Annual fair lending report issued; CFPB’s COO Kate Fulton to join FHFA; consumer complaint database enhanced.
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GSE Credit-Risk Transfers Pass a Big Test. As For Their Future…

May 11, 2020
Dennis Hollier

It's not hard to see why Fannie and Freddie like their CRT programs...


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Surprise: A New Non-QM Deal is Ready to Hit the Market

May 11, 2020
Brandon Ivey

Top contributors to the deal include 5th Street Capital with a 42.8% share and Sprout Mortgage (41.0%). Servicing is being divided among Specialized Loan Servicing (62.4%), Fay Servicing (31.4%) and Lima One Capital (6.2%).


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Mortgages Top the List of COVID-19-Related Criticisms

May 8, 2020
Yemeng Yang
Consumer criticisms regarding mortgages topped the list of coronavirus-related complaints filed with the CFPB in April.
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