The bureau's latest regulatory agenda includes plans to address the fate of the qualified mortgage "patch," but drops items regarding the use of disparate-impact theory in fair lending laws.
The Consumer Financial Protection Bureau this week fined mortgage servicer BSI Financial Services, Irving, TX, just over $230,000 for illegal mortgage servicing practices. A new consent order from the agency lays out the details.
States proposed standards in 2015 to increase oversight of nonbank lenders and servicers but didn’t act to finalize them. The new chairman of the Conference of State Bank Supervisors is making the issue a priority.
As HECM originations continue to decline, a Congressional Budget Office study analyzes four options for reducing the cost of future government guarantees on reverse mortgage loans.
In a speech this week before the annual secondary market conference of the Mortgage Bankers Association, FHFA Director Mark Calabria sounded a little bit like the Mark Calabria of the Cato Institute.
FHA has proposed revisions to its lender certification requirements and defect taxonomy in a bid to provide lenders and servicers greater certainty in how to meet the agency's compliance standards.
Possibly dozens of VA lenders have been handed subpoenas from the federal government tied to VA delinquencies and possibly loan churning. Is this a fishing expedition or something more? Needless to say, lenders are worried.
The bureau has proposed raising the coverage threshold for smaller lenders under the Home Mortgage Disclosure Act. Separately, it has also sought input on whether to make changes to the required data fields in a separate notice.
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