New technologies and poor data management have caused an increase in legal challenges for mortgage originators.

The bureau said the guidance conflicted with the amended ECOA Regulation B rule, which among other changes sets strict conditions for lenders to be able to offer special purpose credit programs.

The act directs the CFPB to conduct studies on the impact of points and fee thresholds and LO compensation on small-dollar loans.

Josh Silver, a senior fellow at the National Community Reinvestment Coalition, said more sophisticated data software now available should allow lenders to facilitate data collection.

A California district court dismissed certain claims under the Comprehensive Computer Data Access and Fraud Act, finding that the plaintiff lacked standing.

The trade group said a federal AI regulatory framework is needed to avoid a patchwork of costly, confusing and potentially contradictory compliance obligations.

Under certain circumstances, the bureau said lenders may be obligated to consider immigration status when conducting ability-to-repay determinations.

Three states have enacted legislation to prohibit denials of divorce- triggered mortgage assumptions. Similar statutes are likely to follow in other states.

With the CFPB reportedly revisiting its 2024 proposed Regulation X servicing rule, the American Bankers Association reminded the bureau of several revisions it should consider.

Mortgage borrowers urged the high court to weigh in on federal preemption, once again, saying a circuit court split involving interest payments on funds in mortgage escrow accounts heightens the stakes.