The CFPB extends the comment period on a request for information that aims to combat lending discrimination; consumers harmed by a mortgage modification service provider can now file claims; the bureau adopts an external peer review procedure; RFI issued on the CARD Act.
Mortgage industry groups want a transition period between the expiration of the GSE “patch” and the implementation of a revised general QM definition to minimize market disruption.
Brian Johnson, who was deputy director of the CFPB until recently, has called on the agency to rescind a 2015 bulletin that essentially killed marketing services agreements.
While Republicans and Democrats continue to bicker over a second COVID relief package, industry groups warned that further halting of negative credit reporting may be disruptive to the market.
The purpose of the CFPB’s prioritized assessments is not to find violations, but to assess risks and to have a supervisory dialogue with the institution, according to bureau officials.
California’s plan to create a state-level CFPB back on the table; NCLC calls for prohibition of collection of all time-barred debts; Mr. Cooper nears settlement with the CFPB.
Democratic lawmakers have called for the resignation of CFPB Director Kathy Kraninger over the bureau's handling of the response to the coronavirus pandemic, particularly its oversight of mortgage servicers.
The idea behind the proposed pricing approach is to prevent market disruption and extend mortgage credit to consumers who are currently excluded due to strict underwriting requirements.
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