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Home | News | Government

Michigan-Based Bank Discussing Settlement With CFPB


Flagstar Bancorp, Inc. announced earlier this week that it has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) in order to notify its investors that the bank is currently trying to work out a settlement with the Consumer Financial Protection Bureau (CFPB) regarding alleged violations of financial laws.

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FHA Revises Rules Regarding Prepayments, ARMs


The Federal Housing Administration (FHA) announced on August 25 the passing of two new rules – one that prohibits lenders from charging interest on FHA-insured mortgages that are paid in full and one that requires lenders to give borrowers earlier access to information regarding FHA-insured ARMs.

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Companies Chosen for CFPB’s Electronic Mortgage Program


The program's launch marks a big step in the agency's "Know Before You Owe" mortgage initiative, which is aimed at improving the homebuying experience for consumers through simpler disclosure forms as proposed in a rule first issued in November last year. In Thursday's release, CFPB announced it is in the process of preparing for that rule to be implemented in August 2015.

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