Oversight of nonbank mortgage servicers, support for community banks and reinvigoration of federal partnerships are among state regulators’ top priorities.
The enforcement action against Lakeview/Bayview Loan Servicing puts mortgage servicers on notice that they can no longer be lax about cybersecurity compliance.
The lawsuit accuses Vanderbilt Mortgage of originating loans without making a reasonable, good faith determination of the borrower’s ability to repay the loan. The legal action is likely to be re-evaluated under a new CFPB director, according to Sheppard Mullin attorneys.
The Mortgage Firm allegedly engaged in discriminatory lending practices in predominately Black and Hispanic neighborhoods in the Miami-Fort Lauderdale-West Palm Beach metro area.
CFPB takes separate actions against Equifax, Honda Finance, Cash App, Experian and Capital One; CFPB approves first standard-setting body; CFPB plans rulemaking concerning nonbanks; CashCall loses appeal; CFPB plans to update Regulation CC.
Bank regulators run by Trump-appointed leaders could move to issue a revised proposal on capital requirements for large banks, according to FDIC Vice Chairman Travis Hill.