The CFPB and five other federal agencies issued a joint proposed rule aiming to set quality control standards for the use of automated valuation models. Separately, regulators issued proposed guidance for reconsiderations of value.

The Supreme Court held that a Minnesota county violated the Constitution’s takings clause when it kept excess proceeds from a tax foreclosure sale after paying off the homeowner’s tax debt. The ruling has implications for mortgage servicers.

Members of the Federal Reserve’s Community Depository Institutions Advisory Council have raised concerns that Section 1071 reporting requirements and Community Reinvestment Act modernization could hurt their ability to offer services.

Several amicus briefs have been filed in defense of the CFPB’s funding structure in a case the Supreme Court will hear in its next term. Former and current members of Congress and academics said the bureau’s funding is consistent with historical practice.

Housing and mortgage markets could descend into chaos if bureau rules are invalidated by the Supreme Court, according to the Mortgage Bankers Association and other trade groups.

Compliance issues tied to HMDA reporting were the most common problem cited in Fed exams of banks in 2022.

A district court held that a borrower had provided enough evidence to show subservicer LoanCare had received a qualified written response and failed to respond as required by the Real Estate Settlement Procedures Act.

Banking industry trade groups are seeking changes to the loan originator compensation rule, which is currently under review by the CFPB.

The Appraisal Foundation updates appraisal standards; the CFPB will distribute $22 million among debt relief scam victims; CFPB Inspector General expresses opposition to legislation about his office.

The CFPB issued an advisory opinion last week reinforcing that the Fair Debt Collection Practices Act includes protections against collections on time-barred debt, including second liens originated prior to 2008.