Press Kit for the Know Before You Owe Mortgage Disclosure Rule
The Dodd-Frank Wall Street Reform and Consumer Protection Act directed the CFPB to combine certain federal mortgage disclosures that consumers receive when...
Newsroom archive
Prepared Remarks of CFPB Director Richard Cordray at the CFPB Forum on eClosings
Thank you all for joining us today. We have convened this forum to discuss the results of our pilot project on electronic mortgage closings, which are known...
CFPB Study Finds Electronic Mortgage Closings Can Benefit Consumers
Consumers Reported Greater Understanding, Efficiency, and Feelings of Empowerment The Bureau today published a report on its "Know Before You Owe" eClosing...
CFPB Provides Guidance About Private Mortgage Insurance Cancellation and Termination
Bureau Issues Bulletin Regarding Homeowners Protection Act The Bureau today issued a bulletin providing guidance to mortgage servicers regarding the...
CFPB Takes Action Against Mortgage Company for Blocking Consumers’ Attempts to Save Their Homes
Residential Credit Solutions to Pay $1.5 Million for Servicing Wrongs Today the Bureau took action against Residential Credit Solutions, Inc. for blocking...
CFPB Takes Action Against Mortgage Payment Company And Servicer For Deceptive Ads
Consumers Deceived by "Equity Accelerator" Claims to Receive $33.4 Million The Bureau took action today against Paymap Inc. and LoanCare, LLC for deceiving...
CFPB Finalizes Two-Month Extension of Know Before You Owe Effective Date
The Bureau today issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated...
CFPB Proposes Two-Month Extension of Know Before You Owe Mortgage Rule
Proposal Open for Public Comment Until July 7th The Bureau today issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which...
Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure Rule
Today, CFPB Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule:...
CFPB Takes Action Against Guarantee Mortgage For Loan Originator Compensation Violations
Lender Ordered to Pay $228,000 Civil Penalty Today, the Bureau ordered a California mortgage bank, Guarantee Mortgage Corporation, to pay a civil penalty of...
Prepared Remarks of CFPB Director Richard Cordray on the Reverse Mortgage Advertising Press Call
Thank you all for joining us today for the release of our study on reverse mortgage advertisements. Right now, we are experiencing the greying of America...
Consumer advisory: Don’t be misled by reverse mortgage advertising
You might see enticing images of youthful retirees on the golf course or enjoying other leisure activities in a reverse mortgage advertisement. We looked closely at many ads and found incomplete and inaccurate statements used to describe the loans. Reverse mortgage ads don’t always tell the whole story, so consider these facts when you see advertisements.
CFPB Director Cordray Issues Decision in PHH Administrative Enforcement Action
Today CFPB Director Richard Cordray issued a decision in the first appeal of a Bureau administrative enforcement proceeding...
CFPB Study Finds Reverse Mortgage Advertisements Can Create False Impressions
CFPB Issues Advisory Warning Consumers Not To Be Deceived Today the Bureau released results of a focus group study on reverse mortgage advertisements that...
CFPB Orders RPM Mortgage to Pay $19 Million for Steering Consumers Into Costlier Mortgages
RPM CEO Erwin Robert Hirt to Pay Additional $1 Million Civil Penalty Today, the Bureau filed a complaint in federal district court against RPM Mortgage...
CFPB and Florida Attorney General Obtain $27.7 Million Judgment Against Foreclosure Relief Scam Companies
Court Enters Judgment Against the Hoffman Law Group and Affiliates for Deceiving Consumers and Collecting Illegal Advance Fees; Individuals Involved to...
CFPB and Department of Justice Take Action Against Provident Funding Associates for Discriminatory Mortgage Pricing
Harmed African-American and Hispanic Borrowers Will Receive $9 Million Today, the Bureau and the Department of Justice (DOJ) filed a joint complaint against...
Prepared Remarks of CFPB Director Richard Cordray at the National Association of Realtors
Thank you for having me join you today. My work with realtors dates back to 1992, when I was serving in the Ohio House of Representatives. The Ohio...
CFPB Files Suit Against Nationwide Biweekly for Luring Consumers with False Promises of Mortgage Savings
Consumers Paid $49 Million in Fees for Deceptive Mortgage Payment Program Today the Bureau filed a lawsuit in federal district court against Nationwide...
Agencies Issue Final Rule on Minimum Requirements for Appraisal Management Companies
Joint Release: Office of the Comptroller of the Currency Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Consumer...
CFPB and State of Maryland Take Action Against “Pay-To-Play” Mortgage Kickback Scheme
Loan Officers and Former Title Company Executives Who Traded Cash and Marketing Services for Illegal Referrals Will Be Banned, Pay Redress and Penalties...
CFPB and Federal Trade Commission Take Action Against Green Tree Servicing for Mistreating Borrowers Trying to Save Their Homes
Green Tree to Pay $48 Million in Borrower Restitution and $15 Million Fine for Servicing Failures WASHINGTON, D.C.– Today, the Bureau and the Federal Trade...
CFPB Takes Action Against Mortgage Lender for Deceptive Advertising
Bureau Orders RMK Financial to Pay $250,000 for Deceiving Borrowers with Claims of Government Affiliation Today the Bureau took action against RMK Financial...
CFPB Announces New ‘Know Before You Owe’ Mortgage Shopping Toolkit
"Your Home Loan Toolkit" Will Help Consumers Be Informed Mortgage Shoppers The Bureau today released a new toolkit that guides consumers through the process...
Prepared Remarks of CFPB Deputy Director Steven Antonakes at The Exchequer Club
The Bureau does not have a safety and soundness mandate. Nevertheless, we very much care about the financial health of banks and nonbanks. As a veteran of...
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