House Bill Addresses Poor CFPB Guidance
Legislation that has advanced in the House of Representatives addresses sharp criticism the Bureau of Consumer Financial Protection kept lenders in the dark about complying with agency guidance.
CFPB Trying to Jump Start Trial Disclosures
A policy change is being proposed by the Consumer Financial Protection Bureau that is intended to jump start the use of trial disclosure programs.
CashCall Owner Operates Another Similar Firm
The owner of a California lender that was sued by the Consumer Financial Protection Bureau runs another similar firm that operates the same way.
Moody's Settles RMBS Rating Charges
Moody's Investors Service Inc. has agreed to settle charges by a federal regulator that its rating system for residential mortgage-backed securities was deficient.
CFPB Chief Nominee Approved by Senate Committee
Despite the Senate Banking Committee's partisan approval today for Kathy Kraninger to serve as director of the Consumer Financial Protection Bureau, she has plenty of detractors.
Mortgage Events for MSR Market, Brokers
Mortgage market participants interested in servicing rights, mortgage brokers or regulatory compliance have multiple events they can attend over the next several months.
Fine Against Citi Unit for Servicing Practices
The good news is that a seven-year-old consent order against Citigroup Inc. has been terminated. The bad news is that a subsidiary was hit with a fine over its handling of mortgage documents.
Banks Maintain Mortgage Credit Standards
For most single-family lending programs, credit standards at banks were little changed during the second quarter. While demand for residential loans was up at a good share of banks, it was also down at a good share.
Digitization in Non-Bank Home Lending
A report from the Department of the Treasury highlights technological advances made in financial services and offered recommendations for non-bank firms.
North Dakota Seeks Waiver of Appraisal Requirements
A severe shortage of real estate appraisers has North Dakota officials making a request to waive appraisal reports, at least temporarily, on some residential loans. Banking regulators see the move as necessary.