Monday Morning Cup of Coffee: When will mortgage lending pick up?

Monday Morning Cup of Coffee: When will mortgage lending pick up?

Plus, more on the future of Fannie and Freddie

Fannie Mae: 3 reasons why this oil glut won't crash housing

It isn't the 1980s anymore

The Wrap: Appraisal activity continues to pick up in second week of August

Appraisal Foundation joins HousingWire

Items Tagged with 'Consumer Financial Protection Bureau'


Community lenders warn CFPB on TRID ‘black hole’

Potential for conflict stems from Loan Estimate and Closing Disclosure timelines
The Community Home Lenders Association is calling on the Consumer Financial Protection Bureau to address a potential “black hole” for lenders that could arise when the new Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosure rule, takes effect on Oct. 3.
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You can now review every federal agency (even the CFPB) on Yelp

New agreement allows agencies to claim pages, respond to reviewers
Thanks to a new agreement between the federal government and Yelp, anyone can now rate and post a review of any federal agency on the consumer review-driven website and app. The agencies can now claim their page on Yelp, read and respond to the unfiltered reviews, and even “incorporate that feedback” into improvements to its services.
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Ex-CFPB Deputy Director Antonakes resurfaces with Eastern Bank

Will serve as chief compliance officer
Steven Antonakes, who resigned last month from his position as the deputy director of the Consumer Financial Protection Bureau, has found his next role, and it’s one in which he should be able to utilize his experience and expertise — chief compliance officer.
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PHH posts big loss in 2Q

Sets aside $34M for legal and regulatory reserves in 2nd quarter
PHH Corp. went deep into the red in the second quarter. The loss was driven primarily by PHH setting aside a $34 million pre-tax provision for legal and regulatory reserves.
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Rick Perry: Clinton policies caused housing crisis

Warns another crash is coming; advocates ending Fannie, Freddie
In a speech last week in New York, former Texas Gov. Rick Perry positioned himself, surprisingly, as a populist ready to take on Wall Street, laid the blame of the housing crisis on the “destructive homeownership policies” of the Clinton administration, and warned that the next crisis is coming.
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CFPB fines Residential Credit Solutions $1.5 million for illegal mortgage servicing

Allegedly failed to honor loan modifications, drove borrowers into foreclosure
According to the CFPB, Residential Credit Solutions failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren’t, sent consumers escrow statements falsely claiming they were due a refund, and forced consumers to waive their rights in order to get a repayment plan.
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CFPB orders Paymap to repay $33.4 million for deceiving customers

LoanCare also fined for falsely promising savings with biweekly payment program
The Consumer Financial Protection Bureau announced Tuesday that it is ordering Paymap, a Colorado-based payment processing company, to return $33.4 million to consumers for falsely promising mortgage savings to borrowers who used their biweekly mortgage payment program.
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Small Texas bank winning big fight against CFPB

Court of Appeals upholds bank’s challenge to regulator
A small Texas bank was handed a large victory this week, when a federal court ruled that the bank is allowed to challenge the constitutionality and authority of the Consumer Financial Protection Bureau. Here are all the details.
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NAMB to Congress: New TRID forms should disclose g-fee costs

Homebuyers should see fees that "in no way benefit them"
The Association of Mortgage Professionals says the Consumer Financial Protection Bureau’s new Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, doesn’t disclose enough and says homebuyers are entitled to know where all the money they pay to buy a home is going.
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