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The Consumer Financial Protection Bureau (CFPB) released two reports today showing that more work needs to be done to help mortgage borrowers coping with the COVID-19 pandemic and economic downturn.
Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022.
The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.
Today, the Consumer Financial Protection Bureau (CFPB) issued a report that warns of widespread evictions and foreclosures once federal, state, and local pandemic protections come to an end, absent additional public and private action. Over 11 million families are behind on their rent or mortgage payments: 2.1 million families are behind at least three months on mortgage payments, while 8.8 million are behind on rent. Homeowners alone are estimated to owe almost $90 billion in missed payments. The last time this many families were behind on their mortgages was during the Great Recession.
On January 19, 2021, the Consumer Financial Protection Bureau issued a final rule to implement a requirement of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices.
On December 10, 2020, the Consumer Financial Protection Bureau issued final rules related to qualified mortgage (QM) loans.
The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2021 will remain at $27,200, as it was in 2020.
Today, the Consumer Financial Protection Bureau settled with Washington Federal Bank, N.A., a federally insured national bank, to address the Bureau’s finding that it reported inaccurate Home Mortgage Disclosure Act data about its mortgage transactions for 2016 and 2017.
On October 26, 2020, the Consumer Financial Protection Bureau issued a consent order against Low VA Rates LLC, which sent consumers mailers for mortgage loans guaranteed by the U.S. Department of Veterans Affairs that contained false, misleading, and inaccurate statements.
The Consumer Financial Protection Bureau issued a final rule to extend the Government-Sponsored Enterprise Patch until the mandatory compliance date of a final rule amending the General Qualified Mortgage loan definition in Regulation Z.
Research examining changes to terms and cost of a mortgage loan during the origination process also released.
Homeownership is part of the American Dream. The GSEs play a central role in the $11 trillion single-family mortgage market, helping many consumers achieve their dream of owning a home.
By
Kathleen L. Kraninger
The Consumer Financial Protection Bureau is extending the comment period on its notice of proposed rulemaking to create a new category of seasoned qualified mortgages by three days.
The Consumer Financial Protection Bureau issued a consent order against ClearPath Lending, Inc. (ClearPath), a California corporation that is licensed as a mortgage broker or lender in about 22 states.
The Consumer Financial Protection Bureau issued a consent order against Accelerate Mortgage, LLC (Accelerate), a Delaware limited liability corporation that is licensed as a mortgage broker and lender in about 31 states.
Today, the Consumer Financial Protection Bureau issued a consent order against Hypotec, Inc., a mortgage broker based in Miami, Florida that is licensed in eight states.
Today, the Consumer Financial Protection Bureau issued a consent order against Service 1st Mortgage, Inc. (Service 1st), a mortgage broker based in Glen Burnie, Maryland that is licensed in about 12 states.
The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.
La Oficina para la Protección Financiera del Consumidor ha publicado el día de hoy una serie de anuncios de servicio público con el fin de contactar a aquellos consumidores que hayan sido perjudicados por la oficina de abogados Siringoringo, Stephen Lyster Siringoringo, Clausen & Cobb Management Company, Inc. y Joshua Cobb.
The Consumer Financial Protection Bureau issued a new Home Mortgage Disclosure Act analysis of the 2019 HMDA Data. This data article is the second in a series and follows the first article published in June of this year.
The Consumer Financial Protection Bureau issued a consent order against PHLoans.com, Inc. (PHLoans), a California corporation that is licensed as a mortgage broker or lender in about 11 states.
The Consumer Financial Protection Bureau released a series of public service announcements targeting consumers who were harmed by Siringoringo Law Firm, Stephen Lyster Siringoringo, Clausen & Cobb Management Company, Inc., and Joshua Cobb.
The Consumer Financial Protection Bureau issued a consent order against Go Direct Lenders, Inc. (Go Direct), a California corporation that is licensed as a mortgage broker or lender in about 11 states.
The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.
