CFPB issues new policy statement on criminal regulatory offenses; CFPB ends consent order with Navy Federal Credit Union; California’s licensing fees set to increase.

The credit union agreed to pay $95 million in consumer refunds and fines to resolve a CFPB investigation that found the company illegally charged overdraft fees.

The Mortgage Bankers Association has partnered with industry stakeholders to help close the racial homeownership gap.

A class-action request against Navy Federal was denied. The plaintiffs in the racial discrimination suit must file an amended complaint.

FHA’s share of the government-insured market declined to 60.8% in the first quarter of 2024, while VA production improved from the fourth quarter led by IRRRLs. (Includes three data tables.)

Total issuance of Ginnie Mae mortgage-backed securities declined slightly during the first quarter of this year. Still, volume was up sharply from the first three months of 2023. (Includes four data tables.)

Congress reauthorizes National Flood Insurance Program; Navy Federal Credit Union completes external review; and more.

Ten Democratic lawmakers, led by Senate Banking, Housing and Urban Affairs Committee Chair Sherrod Brown, want HUD and the CFPB to investigate Navy Federal Credit Union over fair lending concerns.

Endorsements of FHA and VA insured loans increased by 9.2% in the third quarter while total first-lien originations declined. (Includes three data tables.)

Originations of adjustable-rate mortgages stayed flat in the third quarter while total first-lien production declined somewhat. (Includes data table.)