The Paymap program falsely promised that consumers would save tens of thousands of dollars in interest from making bi-weekly mortgage payments through an electronic payment system that draws debits from their bank accounts when in fact, borrowers saved little, if any.

The Fair Housing rule was intended to ensure that every person in America has the right to fair housing, regardless of their race, color, national origin, religion, sex, disability or familial status, HUD says. The final rule aims to provide all HUD program participants with clear guidelines and data they can use to achieve those goals.

The court ruled unanimously and found the State National Bank of Big Spring "is not a mere outsider asserting a constitutional objection to the bureau" and is subject to the bureau's rulemaking powers,

The Consumer Financial Protection Bureau (CFPB) recently announced that Meredith Fuchs will serve as acting deputy director following Deputy Director Steve Antonakes' announcement last week to depart from the agency.

Freddie Mac recently announced the election of Lance F. Drummond as a director on the Enterprise's board. Drummond, 60, is a senior business leader with extensive experience specializing in business transforming strategy development and execution, operations, technology, and process re-engineering.

Fairholme Funds made the request in court against the GSEs, claiming that their investor ownership stake was taken unlawfully from them by the government when the conservatorship occurred. Fairholme's efforts are a step toward getting their ownership stake returned to them.

RoundPoint Mortgage Servicing Corporation's residential mortgage servicer ratings have been adjusted, Fitch Ratings confirmed. Fitch determined that RoundPoint's U.S. residential primary servicer rating for subprime product is 'RPS3+' and the U.S. residential special servicer rating is 'RSS3+'. In addition, the rating outlooks have been revised to 'negative' from 'stable.'

The first-time buyer share in April, May, and June was launched to new highs, supported by improvements in the labor market, riskier mortgage lending, and continuing low mortgage rates. The American Enterprise Institute International Center on Housing Risk recently released a report, finding that first-time buyers account for 58.8 percent of primary owner-occupied home purchase mortgages with a government guarantee, up from 57.2 percent the prior June, according to the Agency First-Time Buyer Mortgage Share Index.

The Consumer Financial Protection Bureau has finally set an official effective date for the TILA-RESPA Integrated Disclosures rule, after much debate and numerous industry requests to delay the rule. The CFPB issued a final rule moving the effective date to Saturday, October 3, 2015 on Tuesday.

The Dodd-Frank Wall Street Reform and Consumer Protection Act's fifth anniversary was acknowledged on Tuesday, July 21, 2015, marking five years since this reform act was enacted. As Dodd-Frank turns five, congress members and industry leaders examine just how effective the reform act has been within the government agencies to which it was applied.