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Inside the CFPB

August 12, 2019

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Industry Mulls Transition as End of QM ‘Patch’ Nears

As the initial anxiety over the CFPB’s plan to end the qualified mortgage “patch” fades, mortgage industry participants are assessing their options. Read More

MSR Buyers Cannot Contract Out Obligations

Buyers of mortgage servicing rights should be held responsible for violations that occur after the transfer, even if certain obligations were subcontracted out, the CFPB said in a recent court filing. Read More

Alternative Data Use Could Expand Credit Access

The CFPB’s review of a fintech company’s lending practice shows that using alternative data could expand credit access and at the same time allow lenders to remain compliant with fair lending laws. Read More

Republican AGs Say CFPB Structure Unconstitutional

A dozen Republican state attorneys general asked the Supreme Court to review the challenge to the CFPB’s structure, stating their belief the bureau directorship is unconstitutional. Read More

Dems Call For the Ouster of Former CFPB Official

Democratic lawmakers have called for the removal of Eric Blankenstein, currently a HUD official, after it was found that he likely abused his authority at the CFPB in dealing with a controversy tied to his racially-charged writings of the past. Read More

CFPB Guidance on Providing Loan Estimates Under TRID

The CFPB issued a new set of frequently asked questions on whether lenders should provide loan estimates in particular cases under the integrated mortgage disclosure rule. Read More

CSBS Stresses Need for Compliance Culture at Nonbanks

The Conference of State Bank Supervisors in a new white paper encourages nonbank lenders to self-report violations to examiners and build a strong compliance culture. Read More

CFPB Extends Comment Period for Two Proposals

The CFPB has extended the comment period for its debt-collection proposal by 30 days and has reopened the comment period for its HMDA threshold proposal until October. Read More

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