Any regulatory action resulting from the CFPB’s recent request for information must be grounded in the bureau’s statutory authority, the Mortgage Bankers Association said.

The CFPB said it is stepping in to stop harmful practices used in contract for deed financing that set up homebuyers to fail.

The Urban Institute does not believe either cost-saving avenue would come to fruition...

“We have identified a number of predatory practices, including high-pressure door-to-door sales where families are baited into expensive loans that wipe away the savings from a solar installation,” said CFPB Director Rohit Chopra.

The bureau's amicus brief argues that the plaintiffs have the right to sue Nationstar for violations of the Fair Debt Collection Practices Act.

UWM took in net proceeds of $2.4 billion from MSR sales in the first half of 2024.

HUD said the changes will better align its regulations with advances in electronic communication technology and borrower engagement preferences, while preserving consumer protections.

Michael Bright, CEO of the Structured Finance Association, predicted that the CFPB will soon bring another lawsuit involving ABS following a tepid reaction from the securitization market to a lawsuit by the bureau against a student loan ABS.

Nierenberg was asked during the call if Rithm is still considering spinning off Newrez. “Yes,” he said. “I don’t know if it’s just a direct listing or something. We’re looking at anything and everything as a way to increase value for shareholders.”

Some 4,998 mortgage-related complaints were received by the bureau in the second quarter, an 11.5% decline from the prior period.