In April, CFPB Acting Director Mick Mulvaney had recommended steps to improve the “transparency and accountability” at CFPB. Here’s what the Financial Services Committee discussed at a hearing on Wednesday on these reforms.
Read More »Senate Addresses Robocalls: What Mortgage Servicers Need to Know
At a Senate Hearing Wednesday, witnesses explained how the industry and government were working together to clarify the challenge of unsolicited robocalls.
Read More »Fannie Mae Delivers Mixed Economic and Housing Forecast
Amid talk of trade wars, escalating home prices, and rising interest rates, Fannie Mae is remaining optimistic about overall economic growth. In Fannie's April 2018 Economic and Housing Outlook report, the GSE projects higher numbers across the board in housing ...
Read More »First American Mortgage Solutions Expands Digital Product Access
The company's added access through its digital portal provides users with flexibility and workflow configuration to improve their digital mortgage lending experience.
Read More »Mulvaney: ‘The Bureau Is Not Designed to be Accountable’
During his testimony before the Financial Services Committee, Mick Mulvaney, CFPB’s Acting Director spoke on the bureau’s strategic priorities and a “New Approach” towards bringing more responsibility and accountability to the consumer watchdog.
Read More »Dodd-Frank Rollback to Impact PACE ABS Market
An analysis of the Dodd-Frank Act modifications by Moody’s has found that the amendment to the federal Truth in Lending Act (TILA) passed by the U.S. Senate last week will help clarify certain federal consumer protection responsibilities for participants in ...
Read More »Ellie Mae’s Velocify Platform Wins LeadsCouncil Leader Award
Pleasanton, California-based Ellie Mae, which provides a cloud-based analytics platform for the mortgage industry, announced that its platform, Velocify, was recognized with a LeadsCouncil LEADER award for outstanding performance and innovation in the lead generation industry. Velocify is the recipient ...
Read More »Establishing Credit History Harder in Low-income Areas
A new study shows that consumers located in lower-income areas are more likely to establish credit history through negative means, like debt collection, than those in higher-income areas. While 27 percent of low-income area consumers establish their history through what are called “nonloans,” just 7.9 percent of consumers in high-income areas establish credit via these non-loans. The study also found the percentage of Americans who became credit visible due to student loans more than doubled over the last decade.
Read More »Though the CFPB Faces Major Reform, Few Know What it is
As the new administration looks to reform the Consumer FInancial Protection Bureau, the bureau is brought further into the public eye.
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