Even though Bank of America and the borrowers were successful in reaching a reinstatement, a report filed by the foreclosure mediator put the bank on the hook for acting in bad faith.

The settlement addresses charges that the Memphis, TN-based bank engaged in mortgage lending discrimination in majority-Black and Hispanic neighborhoods.

The volume of loans declined in all mortgage insurance categories on both the purchase-mortgage and refinance sides of the agency market in 2023. Meanwhile, FHA gained market share. (Includes two data tables.)

The Fair Debt Collection Practices Act’s prohibition on false, deceptive or misleading representations applies even if such representations are made unintentionally and unknowingly, the CFPB said in an amicus brief filed with the U.S. Court of Appeals.

The challenges borrowers of student loans face include long hold times on phone calls, delays in application processing and inaccurate billing statements.

Response Tree allegedly operated more than 50 websites that used deception and dark patterns to trick consumers into providing personal information that was sold to telemarketers.

HECM endorsements increased in the third quarter after four consecutive quarterly declines.

Reverse mortgage lenders funded $3.95 billion in new home equity conversion mortgages in the third quarter, a 17.9% increase from the previous period. Year to date, though, HECM endorsements lagged.

Repurchase and indemnification activity at banks and thrifts in the third quarter was the lowest since at least the second quarter of 2016. (Includes data table.)

The correspondent channel took market share from the retail channel in the conventional-conforming sector in the third quarter.