The government accused the San Diego-based Plaza Home of charging black and Hispanic borrowers higher fees than white borrowers on mortgages sourced through the wholesale channel.
FHA will continue to insure mortgages if the government closes but cautions that its commitment authority eventually will run dry. Potential homeowners "will be impacted," it warns.
Except for Title I property improvement loans, HUD proposes to adopt the statutory points and fees structure for all FHA-insured single-family mortgages as implemented under the FPB's QM/Ability-to-Repay final rule.
Our tool puts valuable information into the hands of the public in an accessible way," said CFPB Director Richard Cordray. But will consumers use this information against mortgage lenders?