After proposing a new rule last week to close a junk fee loophole, the Consumer Financial Protection Bureau has proposed a new rule to stop junk fees at the time of payment.
Read More »Commercial/Multifamily Borrowing and Lending Forecast Trends Towards Growth
The MBA has updated its commercial real estate forecast for 2024, as total commercial and multifamily mortgage borrowing and lending expected to rise 29% from 2023’s estimated total of $444 billion.
Read More »Climate Risk Takes Center Stage at FHFA Forum
FHFA recently hosted the Fall 2023 Econ Summit, an exchange of ideas on climate change and insurance; land use and risk modeling; and the impact of disaster risk on home prices.
Read More »National Property Preservation Conference Returned to Washington, D.C.
The annual National Property Preservation Conference once again brought together a cross-section of field services vendors, mortgage servicing professionals, and representatives of government agencies and the GSEs to “discuss pressing issues and develop solutions.”
Read More »CFPB Aims to Close Overdraft Loopholes
Overdraft fees—colloquially known as “junk fees” in most circles—cost Americans billions of dollars a year, but a proposed rule from the Consumer Financial Protection Bureau would close one avenue of racking up these charges.
Read More »Mortgage Disclosure Process Improving for Lenders, Borrowers
The CFPB announced the approval of the Independent Community Bankers of America's (ICBA) proposed template to improve mortgage disclosures to "provide consumers greater clarity, streamline the process through improved disclosure requirements, and expand access to more affordable homes in rural areas with limited housing supply," according to Rebeca Romero Rainey, President and CEO of ICBA.
Read More »Overdraft Fees Still a Surprise to Many
Even in light of changing legislation and promises from banks to be more transparent on how and when overdraft fees occur, the CFPB has found that many Americans are still surprised by them.
Read More »CFPB and Justice Department Charge Developer and Lender Over Predatory Practices
A lawsuit filed by the CFPB and Justice Department alleges that Texas-based developer and lender Colony Ridge targeted and exploited Hispanic borrowers with false statements and predatory loans.
Read More »Lawmakers Seek Improved Consumer Protections From CFPB
Sen. Elizabeth Warren and Rep. Hank Johnson are leading a coalition of 90 lawmakers in requesting increased protections by the Bureau on forced arbitration for financial products and services.
Read More »Report Spotlights Lending Inequities at Navy Federal Credit Union
The nation’s largest credit union—Navy Federal—has been found to have “the widest disparity in mortgage approval rates between White and Black borrowers of any major lender,” according to a CNN study of CFPB lending data.
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