The agreement restricts broker partners from sending loans or applications to Rocket Mortgage and Fairway Independent Mortgage. The California-based broker said the provision is illegal and anticompetitive.

Vesta was established in the context of two big trends: Lenders increasingly are seeing technology as a differentiator, and automation...

The share of loans in commercial MBS experiencing high levels of losses is increasing, according to Kroll Bond Rating Agency.

Vesta’s $30 million Series A fundraising reflects venture capitalists’ continuing interest in software-as-a-service offerings.

Consumer complaints about debt collection saw a hefty 30.6% rise.

Consumer complaints filed with the CFPB topped 500,000 in 2021, hitting a record high. Most of the complaints were against the three national credit reporting agencies. (Includes two data charts.)

The CFPB’s rulemaking efforts to implement consumer financial data access rights under Section 1033 of the Dodd-Frank Act will now include the issue of consumer data portability.

A multistate taskforce investigation revealed that hundreds of mortgage loan originators had falsely claimed to have completed annual continuing education.

The agreement is a part of New York Community Bank’s pending acquisition of Michigan-based Flagstar Bancorp. The investment will cover communities in both banks’ footprints.

Acre Mortgage and Financial has been accused of failure to make all required disclosures and failure to make a reasonable and good faith determination of the borrower’s ability to repay.