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.
New Report From Consumer Financial Protection Bureau Finds Over 11 Million Families At Risk Of Losing Housing
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.
Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices
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.
Consumer Financial Protection Bureau Issues Two Final Rules to Promote Access to Responsible, Affordable Mortgage Credit
On December 10, 2020, the Consumer Financial Protection Bureau issued final rules related to qualified mortgage (QM) loans.
Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage 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.
Consumer Financial Protection Bureau Announces Settlement With Washington Federal Bank, N.A. For Flawed Mortgage-Loan Data Reporting
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.
Consumer Financial Protection Bureau Settles with Ninth Mortgage Company to Address Deceptive Loan Advertisements Sent to Servicemembers and Veterans
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.
CFPB to Extend Comment Period for Notice of Proposed Rulemaking on New Category of Qualified Mortgages
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 report examining the early effects of the COVID-19 pandemic on consumer credit.
El CFPB Anuncia Que Está Intentando Contactar a Aquellos Consumidores Que Sean Elegibles Para Recibir Compensación Económica por El Caso Siringoringo
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.
CFPB Launches Public Service Announcements to Reach Consumers Eligible for Compensation in Siringoringo Case
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.
Consumer Financial Protection Bureau Proposes New Category of Qualified Mortgages to Encourage Innovation and Access to Affordable Mortgage Credit
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.
Good morning. Thank you, Kara, for that kind introduction. And thank you to Women in Housing and Finance for hosting this event.
Consumer Financial Protection Bureau Settles with Mortgage Companies to Address Deceptive Loan Advertisements Sent to Servicemembers and Veterans
Today, the Consumer Financial Protection Bureau issued consent orders against Sovereign Lending Group, Inc. and Prime Choice Funding, Inc.
Consumer Financial Protection Bureau Announces Settlement with Foreclosure Relief Services Company and Its Owner
On July 20, 2020, the United States District Court for the Central District of California entered a stipulated final judgment resolving the Consumer Financial Protection Bureau’s allegations against Certified Forensic Loan Auditors, LLC (CFLA) and Andrew Lehman.
Consumer Financial Protection Bureau Issues Proposed Rule on Escrow Exemptions for Certain High-Priced Mortgage Loans
The Consumer Financial Protection Bureau issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.
CFPB Issues Interim Final Rule on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships
The Consumer Financial Protection Bureau (Bureau) issued today an interim final rule (IFR) that will make it easier for consumers to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage servicers to assist those consumers.
The Consumer Financial Protection Bureau issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year.
The Consumer Financial Protection Bureau issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch (GSE Patch).
Good afternoon. Thank you, Francis, for the introduction. I appreciate the opportunity to be with you today and I look forward to the day when we all will be able to meet safely in-person once again.
CFPB and State Regulators Provide Additional Guidance to Assist Borrowers Impacted by the COVID-19 Pandemic
The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors issued joint guidance to mortgage servicers to assist in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act provisions granting a right to forbearance to consumers impacted by the COVID-19 pandemic.