The industry was hoping the FHFA and the Treasury Department would roll back the restriction placed on the GSEs’ use of the qualified mortgage patch.

More than 10 years after a mandate in the Dodd-Frank Act, the CFPB proposed data collection requirements for small business lending. The proposal could impact around 5,000 lenders.

Consumer advocates are largely pleased with the proposal while lenders sounded alarms. The CFPB acknowledged that the data collection will prompt significant costs.

The settlement would end a class action filed against Sierra Pacific Mortgage for allegedly receiving illegal payments in exchange for referrals of title work.

Bryan Schneider lands at Manatt; New York amends foreclosure requirements; Connecticut extends pandemic-related requirements to federally backed loans; another settlement for Wells Fargo; Mr. Cooper seeking dismissal of lawsuits.

The bureau's debt collection rules will become effective on Nov. 30 as originally planned while the CFPB also indicated that mortgage loan debt collectors could receive guidance later this year.

The CSBS didn’t include data standards and servicing transfer requirements in its final rule for nonbank servicers, noting appropriate regulations from the bureau.

Capitol Hill Republicans want CFPB Acting Director Dave Uejio to testify before Congress about the policy actions undertaken during his six-month tenure.

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.

Nanci Weissgold, a compliance attorney, said there’s no “one-size-fits-all” answer to whether a company should self-report violations.