A coalition of consumer groups, including the National Consumer Law Center, recommend that lenders adopt a reconsideration of value process “as close to mandatory as possible outside a formal rule.”

An amicus brief filed by the Mortgage Bankers Association and other housing industry trade groups was discussed Tuesday in the Supreme Court.

Delaware Supreme Court Chief Justice Collins Seitz wrote that ACE’s argument against making an insurance payout would effectively exclude “just about anything remotely connected to the professional service” from receiving insurance coverage.

Rocket leads the pack on expanding conforming-loan pricing ahead of 2024 loan limits.

The Supreme Court will hear oral arguments Oct. 3 in a case challenging the structure of the CFPB. Lenders are hoping that the CFPB emerges willing to collaborate on regulatory issues.

Proposed guidance from the CFPB and other regulators on reconsiderations of value was welcomed by many industry participants. Still, consumer advocates and lenders have divergent views on the matter.

The CFPB plans to issue a proposed rule in early 2024 to revise standards for loss mitigation. Separately, rising costs for homeowners insurance are a concern.

The DOJ sees its latest redlining settlement as sending a strong message to banks. Washington Trust downplayed the matter, noting no civil monetary penalty was required.

The effort launched with a small business advisory review panel. A proposed rule is anticipated in 2024.

Annual inflation adjustments tied to TILA; CFPB reviews 2022 HMDA data; amicus brief in credit report dispute lawsuit; CFPB touts results from complaint database.