State regulators are showing no sign of slackening their focus on "fair servicing," with mortgage processors seeing more examinations focusing on disparate-impact theories.
At a recent American Bankers Association conference, Cathryn Abshier, fair lending officer and vice president of compliance at Mr. Cooper, said the nation’s third-largest servicer is seeing state regulators focus on disparate impact in their fair lending examinations.
Anurag Agarwal, president of compliance risk analysis at Asurity Technologies, warned of an increase in regulatory examinations and fair lending inquiries from community groups and the media once the complete data set is available to the wider public.
The CFPB is still actively conducting fair lending exams, said compliance experts, but it remains a question mark whether the exams will turn to enforcement actions.
Industry groups and consumer advocates have differing views on the CFPB’s proposal to raise reporting thresholds under the Home Mortgage Disclosure Act.
The Federal Deposit Insurance Corp. found violations of anti-kickback provisions under the Real Estate Settlement Procedures Act during 2018 supervision activities.
U.S. Bank has sued Bank of America for breach of contract related to a nearly $2 billion pre-crisis residential MBS trust. Separately, HSBC has been given another shot at its lawsuit against Deutsche Bank.