The nomination of Stuart Levenbach is just a tactic to extend CFPB Acting Director Russell Vought’s tenure at the agency, according to a bureau spokesperson.

The proposed changes would eliminate the use of disparate impact under the Equal Credit Opportunity Act and restrict conditions for creditors to offer special purpose credit programs.

The new Section 1071 proposal would raise the covered loan origination threshold and exclude certain loans from coverage.

The online real estate marketplace is accused of providing incentives to affiliated real estate agents to “steer” homebuyers toward mortgages from Zillow Home Loans.

California and Washington issued separate consent orders involving alleged violations of mortgage and consumer protection laws.

Financial entities dealing with mortgage complaints often must deal with higher risks and challenges due to the breadth of the mortgage industry, according to an industry compliance expert.

The Mortgage Bankers Association and a local trade group said imposing Community Reinvestment Act requirements on nonbanks isn’t the way to address the barriers to homeownership.

CSBS staff to assist implementation of MCR Version 7; CSBS declines extending MCR V7 implementation; federal bankruptcy court revises mortgage rule; federal court declines appeal of CFPB judgment.

Several complaint categories saw significant increases on a quarter-to-quarter basis, while grievances tied to student loans dropped. (Includes two data tables.)

Cost and regulatory burdens were cited as reasons for rescinding a 2024 rule that would have required nonbanks to report if they had been penalized for violating consumer financial laws.