Mortgage industry participants have a ho-hum reaction to expiration of the GSE patch for QMs. One compliance officer says the industry will do just fine without it.
The CFPB should allow lenders to adopt approaches using artificial intelligence in ways that expand credit access and limit fair lending risk, the MBA said.
The bureau issued a final rule that nearly all residential servicers must adhere to when dealing with principal residences where borrowers are struggling with the financial impact of COVID-19.
CFPB Acting Director Dave Uejio’s nomination to HUD suggests the Biden administration believes it has enough votes to get Rohit Chopra’s CFPB nomination approved.
Members of the House Financial Services Committee voiced different views on a proposal for a government-run credit reporting agency that would compete with the three big private players — Equifax, Experian and TransUnion.
Six months after leaving the bureau, former CFPB Director Kathy Kraninger has some advice for companies: Have a process in place for identifying mistakes before the bureau and state examiners do so.
The companies urged the CFPB to state that disparate impact applies to business models that use AI and to clarify when a disparity is large enough to support a claim of discrimination.
Mortgage lender/servicer violations including redlining, compensation based on product type, deceptive waivers and misrepresentations regarding foreclosure timelines were reported.
RSS