Tag Archives: CFPB

As federal housing agencies push mortgage firms to lend to more consumers, a recent survey indicates most lenders feel the regulatory risk is still too great for them to lower their standards.

The Consumer Financial Protection Bureau (CFPB) announced that it has ordered California-based residential mortgage lender Franklin Loan Corporation to pay $730,000 in restitution for rewarding its employees with bonuses for suggesting loans with higher interest rates to borrowers.

The U.S. Midterm Elections have been over for less than a week, and already Democrats are circling the wagons to protect what will certainly be a top priority on the Republicans' list of changes to make – the Consumer Financial Protection Bureau (CFPB).

Examiners from the Consumer Financial Protection Bureau (CFPB) found that some mortgage servicers violated federal laws while supervising for compliance, CFPB announced recently.

Black Knight Financial Services (BKFS) is working to create a prototype of an industry-level report to provide detailed information on the consumer complaints the Consumer Financial Protection Bureau (CFPB) receives, promoting greater understanding for regulators and servicers.

The Consumer Financial Protection Bureau (CFPB) finalized minor changes to its mortgage rules designed to ensure expanded credit access, which has been a hot topic in recent weeks.

The Consumer Financial Protection Bureau (CFPB) on Monday announced the finalization of a rule proposed in May that would allow companies that limit consumer data-sharing to post privacy notices online instead of delivering them individually.

Looking at compliance challenges, 72 percent of banker respondents listed "maintaining compliance with changing regulations" as one of their top concerns, up from 67 percent at the start of last year, while 69 percent said just keeping track of regulations is a major issue at this point.

Many private student loan borrowers are being driven into default due to a lack of information and affordable loan modification options, according to a report released Thursday by the Consumer Financial Protection Bureau (CFPB) Student Loan Ombudsman.

Brown's letter comes months after the bureau signaled it will be watching out for brokers trying to skirt its compensation rules by operating the same way under a different label. Those rules were put in place early this year as a way to remove financial incentives for brokers to direct borrowers toward riskier products.