The CFPB, in an assessment report last week, underscored the need to resolve the status of the temporary government-sponsored enterprises “patch” under the ability-to-repay and qualified mortgage rule.

The CFPB has restricted public disclosure of certain mortgage data collected by lenders in 2018 under the Home Mortgage Disclosure Act.

The CFPB should clarify the ability-to-repay liability for non-qualified mortgages, the Milken Institute said in a recent report.

Consumer advocacy groups have urged the CFPB to impose strict limits on debt collection agencies in order to protect consumers from abusive practices.

Issuers of auto ABS will likely continue to complete clean-up calls on seasoned transactions even in a rising interest-rate environment, according to S&P Global Ratings. The rating service said clean-up calls yield a positive impact for auto ABS issuers and investors.

Self-employed households have been slower to recover from the financial crisis even though they make more money than salaried households, according to a new study from The Urban Institute. The study attributes the situation partly to the fact that incomes for self-employed households are still below pre-crisis levels while incomes for salaried households have largely recovered. Also, mortgage use and the homeownership rate have largely declined more for self-employed ...

A “suppressed” CFPB report showing that the nation’s largest banks were ripping off students by charging high fees has now come to light.

With financial institutions set to report mortgage disclosure data collected in 2018 to the Consumer Financial Protection Bureau, attorneys are concerned that it may lead to an increase in fair lending investigations and enforcement actions by government agencies.

An increase in asset-based underwriting by banks prompted warnings from the Office of the Comptroller of the Currency last week. The OCC said its examiners have seen greater use of asset dissipation underwriting, a practice used to qualify borrowers using a hypothetical income stream from their asset liquidation rather than debt-to-income ratios. Banks are increasingly using asset dissipation or asset depletion as a response to “intense competition” from nonbanks, among other ...

State regulators will likely put more effort into enforcing fair lending laws, even as the CFPB continues to reassess the use of the disparate-impact theory under the Equal Credit Opportunity Act.