The online real estate marketplace is accused of providing incentives to affiliated real estate agents to “steer” homebuyers toward mortgages from Zillow Home Loans.
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.
CFPB Acting Director Russell Vought has yet to request any funding for the CFPB in fiscal year 2026. His actions mimic those of a former bureau acting director.
The trade group called for clear federal guidance on existing laws to provide regulatory certainty and facilitate the adoption of artificial intelligence by the mortgage industry.
The bureau’s new interpretive rule could call into question the legality of state laws that aim to ban medical debt and other information from credit reports.
RSS