The Bureau has ordered the bank to pay $12 million into the CFPB’s victims relief fund for falsifying forms about mortgage applicants and reporting incorrect information to federal regulators.
Read More »The Cost of Doing Business
With factors ranging from low volumes to inflation and manpower shortages putting the squeeze on the property preservation and field services sectors, MortgagePoint speaks to the vendors, government agencies, and GSEs trying to guide this important industry through the challenges it faces.
Read More »CFPB Examines State Community Reinvestment Laws
The Bureau has issued a new analysis on state Community Reinvestment Act laws, examining affirmative lending, service delivery, and investment obligations by mortgage companies and deposit-taking institutions. Read the details after the link.
Read More »CPFB Offers Guidance on Illegal Junk Fees
Customers will be delighted to know that the CFPB has their back and is helping large banks stop charging junk fees for basic customer service.
Read More »Fed Takes Action Against TransUnion for Illegal Rental Background Checks
The CFPB and FTC have issued a joint consent order requiring the credit reporting conglomerate to pay $23 million in fines for tenant screening and security freeze failures.
Read More »CFPB Announces New Advisory Committee Appointments
Bureau appoints 22 new members to represent various districts of the Federal Reserve System, each member a recommendation by a President of a Federal Reserve Bank.
Read More »Oral Arguments Begin in Constitutionality Case Against the CFPB
The U.S. Supreme Court heard opening arguments challenging the constitutionality of the Bureau’s funding through the Federal Reserve.
Read More »CFPB Releases Annual Report on Residential Mortgage Lending Activity
"The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” said CFPB Director Rohit Chopra. Click through to read more on the CFPB’s analysis of 2022 HMDA data.
Read More »CFPB Proposes the Removal of Medical Bills From Credit Reports
Proposals are being considered by the Bureau to help end coercive debt collection tactics, clean up inaccurate data, and improve credit score predictiveness by erasing medical bills from Americans’ credit reports.
Read More »CFPB Issues Lender Guidance on AI-Related Credit Denials
In an effort to make the intersection of fair lending and technology a priority, the CFPB has issued guidance on how lenders must issue consumers accurate and specific reasons for credit denials when utilizing artificial intelligence.
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