Black and Hispanic borrowers in the mortgage market continue to face higher interest rates and denials, according to a new CFPB report based on 2020 HMDA data.

The CFPB argued that under the Electronic Funds Transfer Act and the Dodd-Frank Act, it was well within its authority to require mandatory disclosures.

Unlike during the Great Recession, when lenders pulled back on consumer access to credit, new credit for mortgages and auto loans loosened during the pandemic.

A mortgage servicer who missed a state law deadline for sending timely lien releases is on the hook for the statutory maximum fine of $5,000.

Bryan Schneider lands at Manatt; New York amends foreclosure requirements; Connecticut extends pandemic-related requirements to federally backed loans; another settlement for Wells Fargo; Mr. Cooper seeking dismissal of lawsuits.

The report covers 16 servicers and the details could provide insight into the bureau’s enforcement priorities, according to compliance attorneys.

A recent U.S. Supreme Court decision is being used by the industry in pushing back against enforcement and it’s not the Seila Law case.

Rep. Maxine Waters. D-CA, wants federal regulators, including the CFPB, to conduct “robust supervision and enforcement” of mortgage servicers to protect homeowners from unnecessary foreclosures.

The rule will help lenders in determining whether to treat June 19, 2021, as a federal holiday or a business day for purposes of compliance with certain time-sensitive borrower protections.

The Mortgage Bankers Association said the Community Reinvestment Act is an ineffective and misguided policy choice with respect to nonbanks.