Texas district court ordered to make quick ruling in CFPB credit card late fee lawsuit; the American Bankers Association pushes back on CFPB report targeting fees associated with health savings accounts; former Nutter Home Loans executive launches regulatory management firm.

Speakers at a recent Women in Housing and Finance conference detailed how their companies have incorporated AI and the positive results from the tool.

A reduction in closing costs, down payment assistance programs for first-generation homebuyers and investing in communities that need housing could all lead to more affordable housing access.

In a first for both companies, student loans originated by SoFi will go into a risk-sharing transaction with help from Bayview.

The CFPB this week issued a report regarding numerous “junk fees” charged by mortgage servicers. The servicers were generally ordered to refund the fees and change their practices.

“Since mortgage borrowers are captive to a company they never chose to do business with, we are working hard to detect and deter violations of law,” said CFPB Director Rohit Chopra.

"It’s hard to see how a charge that is clearly disclosed to the borrower before they enter into the transaction ... and only charged once at closing can be said to unreasonably take advantage of consumers," said Peter Idziak, a senior associate at the law firm of Polunsky Beitel Green.

Complaints filed with the CFPB regarding mortgage servicing went up in the first quarter of 2024, while issues tied to mortgage originations declined. (Includes two data tables.)

A request for information is expected from the bureau as early as the end of this month.

According to industry attorneys, the updated rule signals that the CFPB will “increasingly encourage, and perhaps pressure, nonbanks to consent to be supervised.”