CFPB Takes Action Against Castle & Cooke For Steering Consumers Into Costlier Mortgages
Company to Pay $9 Million in Restitution and $4 Million in Civil Penalties Update November 13, 2013: A copy of the final order can be found at...
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Director Cordray Remarks at the Mortgage Bankers Association Annual Convention
Thank you for asking me to come and speak to the convention. Those of you here today represent the single biggest consumer financial market in our nation...
Federal Regulators Provide Guidance on Qualified Mortgage Fair Lending Risks
Five federal regulatory agencies today issued a statement to address industry questions about fair lending risks associated with offering only Qualified...
CFPB Provides Guidance on Mortgage Servicing Rules
Today, the Bureau is releasing a bulletin and interim final rule to provide greater clarity to the market concerning mortgage servicing rules that take...
Deputy Director Steve Antonakes Remarks at the FDIC Advisory Committee on Economic Inclusion
Thank you Chairman Gruenberg. The Bureau enjoys an outstanding working relationship with the FDIC. On behalf of Director Cordray, thank you for your...
Director Cordray Remarks at the American Banker Regulatory Symposium
Thank you so much for having me here today as you discuss the aftermath of the financial crisis and the future of banking regulation. I know many of you are...
Director Cordray Remarks at the Consumer Advisory Board Meeting
I would like to thank Dr. Altley, Mississippi Valley State University, and the community of Itta Bena for hosting us so graciously. Today we are announcing...
CFPB Spotlights Mortgage Trends with New Online Tool
Today, the Bureau launched an online tool to provide consumers with easy access to public mortgage information collected under the Home Mortgage Disclosure...
CFPB Finalizes Modifications to Mortgage Rules
Today the Bureau finalized amendments and clarifications to its January 2013 mortgage rules in order to help industry comply and to better protect...
Director Cordray Remarks at the American Mortgage Conference
Thank you for having me. Those of you in this room today represent our nation's biggest consumer financial market. Topping $10 trillion, the mortgage market...
Director Cordray Remarks at the National Baptist Convention
We are here to make sure that the problems of the past, which hurt so many consumers, do not happen again. We are here to foresee and prevent the problems...
CFPB Examiners Find Mortgage Servicing Problems at Banks and Nonbanks
Today, the Bureau issued a report detailing mortgage servicing problems at banks and nonbanks. The report also found that many nonbanks lack robust systems...
CFPB Releases Second Update of Exam Procedures for Mortgage Rules
Many of the new rules were directed by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules cover the various stages of a...
CFPB Takes Action Against Castle & Cooke for Paying Employees to Steer Consumers into Expensive Mortgages
The CFPB alleges that the company violated the rule with its quarterly bonus program, which paid more than 150 Castle & Cooke loan officers greater bonus...
Prepared Remarks of Richard Cordray at the NAFCU Annual Conference
Thank you so much for allowing me to join you here today. Since our inception, the Bureau has enjoyed a relationship with credit unions based on mutual...
Agencies Issue Proposed Rule to Exempt Subset of Higher-Priced Mortgage Loans from Appraisal Requirements
The proposed exemptions are intended to save borrowers time and money and to promote the safety and soundness of creditors.
CFPB Finalizes April Clarifications to Mortgage Rules
Today, the Bureau finalized corrections, clarifications, and amendments to its Ability-to-Repay and mortgage servicing rules. Today's clarifications were...
CFPB Issues Proposed Modifications to Mortgage Rules
The proposal issued today would resolve questions that have been identified during the implementation process and would help the rules deliver their...
Director Cordray Remarks to the Exchequer Club
Thank you. It is a privilege to speak to this group, which touches nearly every sector of our economy. One thing we share in common is that we all have been...
The CFPB at the Philadelphia Residential Mortgage Diversion Program Anniversary Celebration
This program began in 2008, at a time when a large and growing number of families were being forced out of their homes. But because of all of your efforts...
CFPB Releases Exam Procedures for New Mortgage Rules
The exam procedures offer financial institutions and mortgage companies valuable guidance on what the CFPB will be looking for as the rules become...
CFPB Finalizes Amendments to Ability-to-Repay Rule
Today, the Bureau finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB's Ability-to-Repay rule for...
The CFPB Before the House Committee on Financial Services
Thank you Chairman Capito, Ranking Member Meeks, and members of the Subcommittee for this opportunity to testify about the Bureau's...
The CFPB Takes Action Against Real Estate Kickbacks
The Bureau today ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgage origination...
Director Richard Cordray at the National Association of Realtors
Over time, we have come to a fuller understanding of how rampant underwriting deficiencies eventually brought about the credit crunch, the financial...