Without an increase in NMLS processing fees, CSBS said it will incur nearly $133 million in losses over the next decade. The fee increases are poised to go into effect in March, but most industry participants won’t be impacted until fall 2025, according to CSBS.

Home equity investment activity is growing thanks to ongoing home price appreciation and strong demand from both homeowners and investors in the secondary market. Regulation of the products is currently limited to a handful of states.

The final rule goes into effect Sept. 16, with the registration deadline for large nonbanks starting Oct. 16.

The ABA is expecting the CFPB to finalize two rules — one on overdraft fees and another on nonsufficient funds fees — within the next few months.

Pete Mills, a senior vice president at the Mortgage Bankers Association, said the registry is an “unnecessary and redundant move.” The final rule requires nonbanks to report to the CFPB any government or court orders penalizing them for violations of consumer protection laws.

Low-income homeowners and older individuals are at an increased risk of losing their property to a tax foreclosure.

Rocket and the loan originator denied all housing discrimination allegations but entered into the agreement with HUD to obtain closure.

New standards for nonbank mortgage servicers will go into effect in Iowa on July 1. While only a handful of states have adopted the CSBS model standards, substantially all large nonbank servicers are covered.

Changes to the state’s Community Reinvestment Act would further protect against discriminatory appraisals, according to the CFPB.

First National Bank of Pennsylvania’s $13.5 million settlement with the DOJ and North Carolina didn’t include a civil monetary penalty. DOJ officials stressed that more redlining enforcement is in the works.