Prepared Remarks of CFPB Director Rohit Chopra at the National Housing Conference
Director Chopra delivered remarks on streamlining the refinancing process.
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CFPB Report Highlights Consumer Protection Issues in Medical and Rental Debt Collection
The CFPB today issued its annual report on debt collection, which highlights aggressive and illegal practices in the collection of medical debt and rental debt.
CFPB Orders NewDay USA to Pay $2.25 Million for Illegally Luring Veterans and Military Families into Cash-Out Refinance Loans
The CFPB took action against repeat offender New Day Financial (NewDay USA) for deceiving active duty servicemembers and veterans seeking cash-out refinance loans.
CFPB Takes Action Against Fay Servicing for Illegal Foreclosure Actions and Violating Law Enforcement Order
The CFPB ordered Fay Servicing to pay a $2 million penalty for violations of mortgage servicing laws, and for violations of a 2017 agency order.
CFPB Takes Action to Stop Contract-for-Deed Investors from Setting Borrowers Up to Fail
The CFPB released an advisory opinion and research report on a form of home seller financing that is often referred to as contract for deed.
Prepared Remarks of CFPB Director Rohit Chopra at the CFPB’s Field Hearing in St. Paul, Minnesota
Director Rohit Chopra discussed contracts for deed and the CFPB’s housing efforts at a field hearing in St. Paul, Minnesota.
CFPB Report Finds Lenders Cramming Markup Fees and Confusing Terms into Solar Energy Loans
The CFPB issued a report finding that some residential solar lenders are misleading homeowners and cramming markup fees into borrowers’ loan balances.
Prepared Remarks of CFPB Director Rohit Chopra at the Treasury Roundtable on Solar Financing
Director Rohit Chopra delivered remarks about preventing predatory lending in the residential solar market.
Prepared Remarks of CFPB Director Rohit Chopra at the Public Meeting of the Strike Force on Unfair and Illegal Pricing
Director Rohit Chopra outlined recent efforts to combat price gouging and unfair practices in financial services, focusing on private equity involvement, junk fees, and credit card interest rates.
Agencies Finalize Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations
Five federal regulatory agencies today issued final guidance addressing reconsiderations of value (ROVs) for residential real estate transactions.
Agencies Issue Final Rule to Help Ensure Credibility and Integrity of Automated Valuation Models
Six federal regulatory agencies today issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling.
Prepared Remarks of CFPB Director Rohit Chopra on Emerging Paycheck Advance Products
Director Chopra delivered remarks on a press call to discuss the CFPB’s proposed interpretive rule on emerging paycheck advance comments.
FFIEC Publishes 2023 Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.
CFPB propone normativa para evitar ejecuciones hipotecarias | CFPB
La CFPB propone nueva normativa para facilitarles a los propietarios de viviendas recibir asistencia, cuando tengan dificultades para pagar sus hipotecas.
CFPB Proposes Rules to Help Homeowners Avoid Foreclosure
The CFPB proposed new rules to make it easier for homeowners to get help when they are struggling to pay their mortgage.
CFPB Takes Action Against Fifth Third for Wrongfully Triggering Auto Repossessions and Opening Fake Bank Accounts
The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.
CFPB and FHFA Release Updated Data from the National Survey of Mortgage Originations for Public Use
Borrower survey of mortgage originations
CFPB Takes Action Against Sutherland Global and NOVAD Management Consulting for Reverse Mortgage Servicing Failures
The CFPB ordered a reverse mortgage servicing operation to stop illegal activities that harmed older homeowners and caused them to fear losing their homes.
CFPB Actúa contra Administradores de Hipotecas Inversas | CFPB
The CFPB ordered a reverse mortgage servicing operation to stop illegal activities that harmed older homeowners and caused them to fear losing their homes.
CFPB actúa contra corporación por violar orden ejecutora | CFPB
La CFPB introdujo una propuesta de orden que obligaría a Freedom Mortgage Corporation a pagar una multa de $3,95 millones, por enviar datos hipotecarios llenos de errores.
CFPB Takes Action Against Repeat Offender Freedom Mortgage Corporation for Violating Law Enforcement Order and for Housing Data Errors
The CFPB filed a proposed order that would require Freedom Mortgage Corporation to pay a $3.95 million penalty for submitting error-riddled mortgage loan data.
CFPB Proposes to Ban Medical Bills from Credit Reports
Today, the CFPB proposed a rule that would remove medical bills from most credit reports, increase privacy protections, help to increase credit scores and loan approvals, and prevent debt collectors from using the credit reporting system to coerce people to pay.
Prepared Remarks of CFPB Director Rohit Chopra on the Proposed Ban of Medical Bills on Credit Reports
Research from the Consumer Financial Protection Bureau in 2022 showed that medical collections tradelines appeared on 43 million credit reports, and that 58 percent of bills that were in collections and on people’s credit records were medical bills.
CFPB Propone Prohibir Facturas Médicas en Informes de Crédito | CFPB
CFPB propone normativa que removería facturas médicas de los informes de crédito, aumentaría protecciones a la privacidad, ayudaría al aumento de los puntajes crediticios y del número de préstamos aprobados, y prevendría que cobradores usen el sistema de reporte del crédito como arma para forzar a la gente a pagar.
CFPB Warns Against Deception in Contract Fine Print
The CFPB today issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services.