Cordray: Purchase Financing, Lenders Increase
In testimony before Congress today, the head of the Consumer Financial Protection said that despite new mortgage rules -- home purchase lending is growing as is the number of residential lenders and bank lenders. But other data don't necessarily support these trends.
More Data Sought for Lender Placed Insurance
A government study concludes that states need to collect more detailed data and implement more potent policies and procedures for lender-placed insurance.
Lending Practices, Tech Helped Cut Mortgage Risk
Many of the lending practices that helped bring down the mortgage industry have been reformed thanks to home lenders, government and technology.
Nationstar Giving $30 Mil to Distressed Borrowers
Nationstar Mortgage is providing $30 million to borrowers on distressed home loans in an agreement tied to financing for a new $500 million basketball arena.
Taking On TRID
The upcoming implementation of integrated disclosures required by the Truth in Lending Act and the Real Estate Settlement Procedures Act has prompted proposed safe harbor legislation. TRID compliance resources include webinars and enhanced technology.
CFPB Being Challenged On Multiple Fronts
As legislation is introduced by Republicans in Congress to abolish the Consumer Financial Protection Bureau, a federal appeals court has given the go ahead on a lawsuit challenging the regulator's structure.
Delayed TRID Implementation Finalized
Following months of uncertainty, the implementation date for new integrated mortgage disclosures has been formally delayed by the Consumer Financial Protection Bureau.
Senators Introduce TRID Bill
A pair of U.S. senators, a Democrat and a Republican, have introduced legislation that would give lenders a grace period for new integrated disclosures.
Adjusted TRID Date Proposed
If a proposed implementation date for integrated disclosures is finalized, mortgage firms and their service providers will have a couple more days than expected to make the conversion.
CFPB Relents: Delay Proposed in TRID Implementation
Intense lobbying by the financial services industry and prodding by Congress has apparently swayed the head of the Consumer Financial Protection Bureau.