The practice can be used to help boost transparency and accelerate settlements, according to industry experts.

Even if the CFPB rescinds its LO rule, the Truth in Lending Act — the statute the LO comp rule is implementing — remains.

The CFPB’s potential rescission of the LO compensation rule won’t fully exempt mortgage companies from the rule’s requirements, according to an industry attorney.

The potential staff cuts are tied to the bureau’s reduced funding for fiscal year 2025, which takes effect Oct. 1.

Emigrant Mortgage has asked the high court to weigh in on three questions that divided a lower court.

The New York Department of Financial Services’ revised proposal doesn’t include any of the substantial changes sought by mortgage industry stakeholders.

Changes to the examination manual were made to align with an executive order from President Trump.

Select Portfolio Servicing allegedly charged borrowers up to $15 in fees to make a mortgage payment online or by phone when its actual cost of processing was less than 50 cents per transaction.

While the state has traditionally viewed mortgage foreclosures to be subject to a 10-year statute of limitations, mortgage borrowers are challenging that viewpoint.

The trade group said a federal standard that preempts state data privacy laws would set clearer expectations for the industry.