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Home » Authors » Shannon Clark

Articles by Shannon Clark

Mortgage Complaints Rise Moderately in Third Quarter

October 27, 2025
Shannon Clark
Consumer grievances received by the CFPB increased across three of the four major complaint categories during the third quarter of 2025.
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Vought Expects CFPB to Be Shut Down by End-2025

October 27, 2025
Shannon Clark
Contrary to the Trump administration’s statements in court, CFPB Acting Director Russell Vought said the bureau will be shut down within the next two to three months.
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MBA Seeks Further Changes to New York CRA

October 27, 2025
Shannon Clark
The Mortgage Bankers Association is concerned that New York’s Community Reinvestment Act plans will place restrictive limits on CRA credit for purchased loans.
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Trade Groups Split Over Section 1033 Revisions

October 27, 2025
Shannon Clark
While trade groups representing banks are seeking a major overhaul of the current rule, fintechs said the rule preserves the principle that financial data belongs to consumers and not banks.
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Trade Groups Ask SCOTUS to Address Fair Housing Act

October 27, 2025
Shannon Clark
The trade groups want the Supreme Court to intervene and correct a lower court’s ruling that creates uncertainty regarding Fair Housing Act liability in the mortgage industry.
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MoneyLion Agrees to Settle MLA Lawsuit

October 27, 2025
Shannon Clark
The financial technology company was accused of overcharging servicemembers and their dependents, and refusing to allow customers to exit its membership programs and stop paying monthly fees.
Read More

Other News in Brief

October 27, 2025
Shannon Clark
Mortgage compliance dataset is nearing implementation; CFPB ends consent order with Citibank three years early.
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loanDepot Sues Broker Shop for Trade Theft, Poaching

October 23, 2025
Shannon Clark
loanDepot has accused West Capital Lending of stealing its leads, misclassifying loan originators and tying LO compensation to loan revenue.
Read More

Short Takes: Originations and MSRs… / Looking to Trade / Expanding Into Wholesale / This One Too / Court Update

October 20, 2025
Paul Muolo and Shannon Clark
Garrett, McAuley & Co. has a “well capitalized retail client” that’s looking to purchase a broker/wholesale channel from a depository or nonbank.
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Solar ABS Market Expected to Weather Storm

October 16, 2025
Shannon Clark
The solar ABS market has received “much needed clarity” in recent months following uncertainty tied to the Trump administration, according to Bank of America Global Research.
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