Denial rates for most mortgage products declined on an annual basis in 2025, though denials of applications for purchase mortgages via FHA and USDA increased slightly. (Includes data table.)

Matt Tully, chief compliance and customer success officer at Sagent, said the mortgage industry wants Reg. X updates to reflect experiences over the last decade.

The consumer groups raised various legal arguments about the final rule, including that it was issued in violation of various laws that set requirements for the rulemaking process.

The Trump administration has directed the CFPB to remind lenders that they should consider that deportation and loss of wages are risks when extending credit to certain noncitizens.

The proposal would reinstate several elements of FSOC’s 2019 nonbank designation guidance in addition to some new changes.

The auto and unsecured loan sectors are facing headwinds, while the credit card sector has a more stable outlook.

The final rules clarify that the National Bank Act preempts state interest-on-escrow laws and codify national banks’ powers to maintain mortgage escrow accounts and to set their terms and conditions.

Lenders turned down 23.38% of refinance applications based on credit history last year compared to 29.88% in 2024.

The former director of the CFPB will lead California’s new Business and Consumer Services Agency, which will launch July 1.

Credit history was cited less by lenders last year as a reason for denying an application for a refinance, while debt-to-income ratio persisted as the top reason for rejecting applications for a purchase mortgage. (Includes data table.)