Many of the problematic provisions in UWM’s employment contracts are common in the mortgage industry.

Jillian White, CEO of Appraisal Insights, called for the elimination of the supervisory-trainee program.

According to data from the Bureau of Labor Statistics, 94.7% of appraisers are white and 0.6% are Black.

“If I were a dues-paying member of these trade groups, I might ask for my money back,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, commenting on bank trade groups challenging revisions to CRA standards.

The banking industry has come under criticism from consumer groups for filing a lawsuit against the new Community Reinvestment Act standards.

The new disclosures on compliance findings from bank exams in 2022 include the nature of the violations, mistakes and risk mitigants.

Amicus briefs filed with the Supreme Court support Bank of America’s fight against a New York law requiring servicers to pay interest on funds held in mortgage escrow accounts.

The change to foreclosure rules in New York was enacted by legislation, while updates in Maine and Alabama were based on court rulings.

An upcoming final rule from the CFPB is set to force major changes in how credit card companies charge late fees.

Joe Fischer, executive vice president and chief financial officer at Navient, said the servicer “remains confident about the strength” of its case and is open to finding a solution that is acceptable to all stakeholders.