Eligible entities can apply for an early termination of consent orders, which typically have a five-year life span, along with strict reporting and record-keeping requirements.

While lenders have recommended that a wider population of loans be eligible under the new QM category, consumer advocacy groups urged the CFPB to withdraw the proposal.

The Community Home Lenders Association is pleased with the proposed scaled approach, which distinguishes between smaller, independent mortgage bankers and larger, more complex servicers.

The appeals court ruled that Freedom Mortgage, as a buyer of mortgage servicing rights, is liable for a missed property tax payment, even though the obligation remains with the original owner for a short period of time under the purchase agreement.

Under Operation Corrupt Collector, the CFPB in September filed a lawsuit against five debt-collection companies for engaging in threatening and abusive practices.

Significant structural changes at the CFPB under the Trump administration; CSBS allows consumer gripes on its examination platform; Ed Pinto complains about the QM patch.

Under the proposal, a bank’s mortgage lending activity will be evaluated using two metrics: the percentage of a bank’s mortgage loans made to borrowers in LMI census tracts and borrowers of different income and revenue levels.

The renewed push for a change to the LO compensation rule has been sparked by the current highly competitive market conditions, according to industry experts.

The CFPB has brought eight enforcement actions, including six settlements and two lawsuits, in September alone. Four of the settlements resolve charges regarding sending deceptive mailers to veterans.

The CFPB’s consumer advisory committee has more consumer advocacy representatives than it has ever had under the Trump administration. Nine out of 12 members are from the consumer advocacy world.