CFPB Coming Down on Reverse Mortgage Lending
The regulator in charge of overseeing the nation's financial services has released a report highlighting borrowers' frustration with reverse mortgages and issued an order against a reverse lender.
NY Issues Consent Order Against Wells Fargo
The banking subsidiary of Wells Fargo & Co. has been penalized for issuing credit cards linked to equity on New York properties.
Ability to Repay Rule Reduces Mortgage Fraud
Home lenders are facing less risk of mortgage fraud, and one factor contributing to the improvement is the Ability to Repay Rule.
Demand Diminishes for Residential Lending
A survey of the nation's banks indicates that demand for a range of residential loan products has mostly been weakening.
Some Issues With Integrated Disclosures
Among concerns about the new integrated disclosures is a new disclosure for total interest as a share of the loan amount and unexpected increases in fees with no tolerance.
CFPB Eases Some Restrictions for Small Creditors
Some small financial institutions will find relief from mortgage regulations that limit exemptions if a proposed federal rule becomes final.
Chase, Wells Hit With CFPB Actions Over Kickbacks
Alleged kickbacks from a now defunct title insurance agency has prompted the Consumer Financial Protection Bureau to take costly action.