CFPB Web Site Still Insecure, OIG Finds. Despite the work the CFPB has done to secure its consumerfinance.gov website, it hasn’t been enough, according to a report released last week by the bureau’s Office of Inspector General, which found that several control deficiencies need to be mitigated to protect the website from compromise.... Mortgage Complaints Among the Top for Older Consumers. Debt collection, home equity conversion mortgages (or reverse mortgages) and credit reporting were the top three most-complained-about consumer financial products and services among seniors, collectively representing about 60 percent of older consumer complaints submitted in March 2017, the CFPB said in its latest monthly consumer complaint report....
Capital Alpha projects that the “emerging reform thrust” might emulate ideas promulgated by the Mortgage Bankers Association, which is adamantly opposed to recap and release.
A few years ago, ComplianceEase was chosen to provide the technology platform that enables regulators and licensees to cooperate and share the electronic files necessary to facilitate e-exams.
Some $247.0 billion of subprime mortgages were outstanding at the end of the first quarter of 2017, according to estimates by Inside Nonconforming Markets.
The credit landscape is improving as more lenders introduce new credit-scoring mechanisms and eligibility requirements, but it may not mean much for mortgage origination volume, at least in the short term, according to a new study by mortgage consulting firm the Stratmor Group. The study noted that when faced with slower housing growth due to demographics, affordability, and higher healthcare costs, lenders will look to loosen underwriting standards to feed their production capacity. Rob Chrisman, senior advisor with Stratmor, said many of the “good borrowers” have refinanced and bought homes already, leaving lenders with borrowers of lesser credit quality. “Lenders and investors, too, are...
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