Some mortgage servicers do not have sufficient guidance in place to respond to credit reporting disputes and other accuracy issues, according to a special edition of a supervisory highlights report.
The CFPB plans to assess the costs and benefits of the integrated mortgage disclosure rule, inviting stakeholders and the public at-large to comment. Assessment results will be released by October 2020.
The CFPB's assessment of the TRID rule does not mean the bureau is planning to eliminate or even modify the rule, according to attorneys watching the action.
The CFPB’s latest financial report for fiscal year 2019 reveals a cut in the agency's workforce, lower funding levels and a slower enforcement process.
The CFPB will announce changes to its consent order termination policy, making it easier for firms to get out from under post-enforcement monitoring, agency Director Kathy Kraninger said in a recent speech. She also hinted at a few other soon-to-be-announced items.
Two Democratic senators are pressing for a CFPB examination of the Apple Card's underwriting standards, while demanding information about the agency's enforcement of fair lending standards.
The CFPB's recent report on mortgage servicers seems to state the obvious: the biggest shops dominate the residential loan processing market, and nonbank market share is growing.
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