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Home » Authors » Shannon Clark

Articles by Shannon Clark

CFPB Dives Into Gaps in HMDA Data Reporting

July 15, 2024
Shannon Clark
The bureau found increasing instances of inaccurate reporting under the Home Mortgage Disclosure Act. Two lenders also faced fines recently.
Read More

CFPB Reveals Difficulties in Loss-Mitigation Assistance Process

July 15, 2024
Shannon Clark
Borrowers struggled to access the repayment assistance and loss mitigation they needed during the pandemic, according to the CFPB.
Read More

Bureau Examiners Find UDAAP Violations in Servicing

July 15, 2024
Shannon Clark
The bureau’s summer edition of Supervisory Highlights provided insight on exams involving auto loan servicing and student loan servicing.
Read More

Fifth Third to Pay $20 Million in Settlement With CFPB

July 15, 2024
Shannon Clark
The settlement resolves a new enforcement action against the bank for illegal auto loan activities as well as a 2020 lawsuit.
Read More

Other News in Brief

July 15, 2024
Shannon Clark
CFPB fair lending director leaves for Fannie; HUD reaches settlement with Appraisal Foundation; CHLA sends second request to CFPB regarding abusive trigger leads; CFPB affirms TILA credit card requirements.
Read More

Wells’ Cross-Selling Scandal Impacted Mortgage Business

July 12, 2024
Shannon Clark
The bank experienced an uptick in mortgage-related complaints following the scandal, even though mortgage products weren’t part of the issue, according to a new research paper.
Read More

Appeals Court Revives CFPB’s Lawsuit Against Townstone

July 12, 2024
Shannon Clark
The case is still pending a final decision, after an appeals court overturned a district court's dismissal of the lawsuit.
Read More

Industry Experts Seek to Create Unified Mortgage Data Platform

July 11, 2024
Shannon Clark
The platform could resolve some common industry frustrations involving the analysis of mortgage data.
Read More

CFPB Proposes Rule to Adjust Servicing Standards

July 11, 2024
Shannon Clark
The rule would require mortgage servicers to only pursue foreclosure as a last resort and increase disclosure requirements. Loss-mitigation application requirements would also be streamlined.
Read More

SCOTUS Ruling Takes Some Power From Regulators

July 11, 2024
Shannon Clark
The Supreme Court’s decision, overturning a deference that courts have provided to regulators for 40 years, should be a relief for the mortgage industry, according to an attorney.
Read More
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