The Hartford, CT-based firm is accused of using unlicensed employees to engage in mortgage origination activities in violation of the Truth in Lending Act. The bureau is seeking injunctions against the defendants, as well as damages, redress and penalties.

Criticism continues to mount on the Conference of State Bank Supervisors’ proposed prudential standards for nonbank servicers. The Community Home Lenders Association urged that smaller servicers be exempted from the rules.

In anticipation of a resolution, Ocwen Financial increased its legal and regulatory accrual related to the CFPB matter by $13.1 million in the fourth quarter of 2020.

The CFPB issues new guidance on serving consumers with limited English proficiency; the filing period for Home Mortgage Disclosure Act data collected in 2020 opened Jan. 1; the latest pandemic-related stimulus package pro-vides $25 billion for emergency rental assistance and extends the national eviction moratorium until Jan. 31.

One of the biggest issues mortgage lenders will face is implementing changes to the general qualified-mortgage rule, which has a mandatory compliance date of July 2021.

After dropping sharply in March, new mortgage applications spiked while other consumer credits struggled to find their footing, according to new research from the CFPB.

The Mortgage Bankers Association has drafted a model bill for state regulators to provide regulatory flexibility allowing mortgage loan originators to work from home, with prescribed regulator standards for consumer and data protection.

The FDIC’s community bank study shows that an unusually high percentage of small community banks reduced their residential holdings after the 2008 financial crisis. Reason: high compliance costs due to the large volume of new mortgage rules.

The Federal Trade Commission voted 3-1-1 to fine Texas-based Ascension Data & Analytics for failure to ensure its vendor was adequately securing consumers’ personal data.

Discover Bank has agreed to pay $35 million to settle student loan violations while Santander Consumer USA was fined $4.75 million for credit reporting miscues tied to auto loans.