Yemeng Yang

Mortgage Grapevine: Genworth Sale Still Alive / Strong MGIC Results

February 6, 2020

A tale of two MIs: Genworth and MGIC. Also: Mortgage monitoring in Puerto Rico.

States Fear Losing Consumer Protection Power, Resources

February 5, 2020

The AGs believe depriving the CFPB of its powers would harm the states by eliminating the agency’s independent enforcement efforts and the valuable assistance it provides…

Puerto Rico Requires Servicers to Report on EQ Assistance Efforts

February 5, 2020

Yemeng Yang

Lenders and servicers that fail to provide their reports to the OCFI in a timely manner may be subject to penalties.

Industry Debates CFPB’s Plan to Eliminate DTI Ratio

February 3, 2020

Yemeng Yang

The CFPB intends to do away with the debt-to-income metric as a mortgage underwriting factor and instead consider an alternative to assess a borrower’s ability to repay. The news drew mixed reactions.

CFPB Makes a Retreat From Enforcing Abusiveness Claims

February 3, 2020

Yemeng Yang

In a new policy statement, the CFPB said it will rely on a cost-benefit analysis to deal with “abusiveness” claims in supervision and enforcement.

States Fear Losing Consumer Protection Power, Resources

February 3, 2020

Yemeng Yang

More than a dozen briefs have been filed before the Supreme Court defending the CFPB’s constitutionality. State attorneys general told the high court that killing the bureau would harm states’ consumer protection authority.

What Happens to CFPB CIDs Pending SCOTUS Decision?

February 3, 2020

Yemeng Yang

The question now facing lenders is how they should respond to the CFPB’s civil investigative demands pending the Supreme Court’s decision in the Seila Law case.

Industry Flags Liability and Burden Issues Under TRID

February 3, 2020

Yemeng Yang

The TRID rule’s cure liability issues and compliance burdens were the main focus of industry feedback letters to the CFPB.

DOJ Political Appointee to Lead CFPB Enforcement

February 3, 2020

Yemeng Yang

Thomas Ward, deputy assistant attorney general overseeing the torts branch in the civil division of the DOJ, will now serve as the CFPB’s assistant director for enforcement.

House Passes Credit Reporting Reform Package

February 3, 2020

Yemeng Yang

The House of Representatives greenlighted a package of bills aimed at overhauling the credit reporting system. The legislation, however, has a dim future in the Senate.

Yemeng Yang

ARTICLES

Mortgage Grapevine: Genworth Sale Still Alive / Strong MGIC Results

States Fear Losing Consumer Protection Power, Resources

Puerto Rico Requires Servicers to Report on EQ Assistance Efforts

Industry Debates CFPB’s Plan to Eliminate DTI Ratio

CFPB Makes a Retreat From Enforcing Abusiveness Claims

States Fear Losing Consumer Protection Power, Resources

What Happens to CFPB CIDs Pending SCOTUS Decision?

Industry Flags Liability and Burden Issues Under TRID

DOJ Political Appointee to Lead CFPB Enforcement

House Passes Credit Reporting Reform Package

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