| Inside Mortgage Finance

Final QM Rules: Good, but Missing Key Elements

The CFPB finalized its qualified-mortgage revisions to replace the 43% debt-to-income ratio with a pricing threshold. Meanwhile, the agency also finalized its “seasoned” QM rule allowing certain non-agency loans to become QMs if they meet performance requirements. Read More

In the Works: Changes to Mortgage Servicing Rules

In the new year, the CFPB will propose changes to its loss-mitigation rules to govern how residential servicers work with borrowers affected by natural disasters and other emergencies. Read More

Stakeholders Seek Guidance on Affirmative Advertising

Industry groups and consumer advocates have asked the CFPB to provide guidance on how lenders can affirmatively advertise to disadvantaged groups while staying in compliance with fair lending laws and regulations. Read More

Seterus Fined $5.4M for Loss-Mitigation Failures

According to the CFPB, from 2014 to 2018, Seterus failed to handle and process homeowners’ applications for loss-mitigation options. The mortgage servicer was acquired from IBM by Mr. Cooper in 2019. Read More

CFPB Cracks Down on Unlicensed Debt Collection

So far this year, the CFPB has brought 44 enforcement actions, with five against debt collectors. The bureau is currently juggling 30 cases, one of the largest litigation dockets in its history. Read More

CFPB Finalizes Disclosure Requirements for Debt Collectors

The final rule outlines the steps collectors must take to inform borrowers about an existing debt and prohibits vendors from bringing legal action over time-barred claims. But neither industry nor consumer groups are happy. Read More

Small Lenders Urge Simplification of Section 1071 Rule

In a review report, small entities asked the CFPB to draft simple regulations to implement small business lending data collection requirements to reduce compliance burden and expand credit access. Read More

Other News in Brief

CFPB appoints former Freddie official to head Office of Innovation; CFPB cautions against reverse mortgage scams; mortgage servicers settle with DOJ; MMC examinations. Read More

Inside the CFPB

December 21, 2020

View Archived Issues

Final QM Rules: Good, but Missing Key Elements

In the Works: Changes to Mortgage Servicing Rules

Stakeholders Seek Guidance on Affirmative Advertising

Seterus Fined $5.4M for Loss-Mitigation Failures

CFPB Cracks Down on Unlicensed Debt Collection

CFPB Finalizes Disclosure Requirements for Debt Collectors

Small Lenders Urge Simplification of Section 1071 Rule

Other News in Brief

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Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

Inside the CFPB

December 21, 2020

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?