The National Fair Housing Alliance called HUD’s new Preserving Community and Neighborhood Choice rule a “major step backwards in the ongoing fight for fair housing.”
Under the proposal, the CFPB will accept requests from third parties, such as trade associations or law firms, on behalf of unnamed financial entities.
If the LLPA is passed to consumers as a charge at consummation, lenders will have to disclose the added cost as an “origination charge” on the loan estimate and closing disclosure.