Yemeng Yang

BofA Settles Disability Discrimination Claims for $300K

July 30, 2020

Bank of America wrote policies between 2010 and 2016 that denied mortgages and HELOCs to adults with disabilities who were under legal guardianships or conservatorships.

Another Pandemic Victim: Blackstone’s CMBS Fund

July 27, 2020

Yemeng Yang

The net asset value of the Blackstone Real Estate Income Fund declined by 24% to $443 million as of March 31...

CFPB Settles With Foreclosure Relief Firm for $3M

July 24, 2020

Yemeng Yang

The CFPB said Certified Forensic Loan Auditors charged each customer $1,495 upfront prior to providing any services.

Blackstone to Close CMBS Fund as Asset Values Fall

July 23, 2020

Yemeng Yang

The net asset value of the Blackstone Real Estate Income Fund dropped by 24% to $443 million as of March 31 from $584 million at the beginning of the year.

Dems Worry About OCC’s COVID-19 Preemption

July 23, 2020

Yemeng Yang

The OCC last month issued several bulletins on federal preemption, including one on states’ foreclosure moratoria...

CoreLogic Rejects Due Diligence Request from Investors

July 23, 2020

Yemeng Yang

The analytics vendor declined to open its books to two major investors, who in late June made an unsolicited $7 billion takeover bid for the company.

CFPB Brings First Redlining Lawsuit Against a Nonbank

July 23, 2020

Yemeng Yang

The action doesn’t come as a total surprise. Industry attorneys said the CFPB, even under a business-friendly GOP, has been itching to do so for several years.

The Pandemic Effect: A New Record High in Consumer Complaints

July 21, 2020

Yemeng Yang

The mortgage sector, which has been saddled with pandemic-related forbearance issues, has fallen off the complaint curve...

CFPB Ratifies Prior Actions; Enforcement Questions Remain

July 20, 2020

Yemeng Yang

It’s possible the validity and outcomes of pending lawsuits involving enforcement actions will be fact-based and vary case by case, according to attorneys tracking the issue.

Final Payday Rule Weakens Underwriting Requirements

July 20, 2020

Yemeng Yang

It is no longer “unfair and abusive” for lenders to make short-term or longer-term balloon-payment loans without reasonably determining that consumers will have the ability to repay the loans.

Yemeng Yang

ARTICLES

BofA Settles Disability Discrimination Claims for $300K

Another Pandemic Victim: Blackstone’s CMBS Fund

CFPB Settles With Foreclosure Relief Firm for $3M

Blackstone to Close CMBS Fund as Asset Values Fall

Dems Worry About OCC’s COVID-19 Preemption

CoreLogic Rejects Due Diligence Request from Investors

CFPB Brings First Redlining Lawsuit Against a Nonbank

The Pandemic Effect: A New Record High in Consumer Complaints

CFPB Ratifies Prior Actions; Enforcement Questions Remain

Final Payday Rule Weakens Underwriting Requirements

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