New FICO program reveals credit score to risky borrowers

Is this any way to run a mortgage market?

Here's the right solution

Has the mortgage market turned a corner?

Mortgage lending still below norms and signs point to...
W S

Items Tagged with 'Consumer Financial Protection Bureau'

ARTICLES

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults
Ben Lane
A consortium of housing advocacy groups is calling on the U.S. Department of the Treasury, the Federal Housing Finance Agency, and the Consumer Financial Protection Bureau to investigate “pro-foreclosure campaigns,” which the groups say are being perpetrated by “Wall Street giants including the largest hedge funds, mortgage bond traders, and insurance companies.”
Read More

CFPB issues final rule on providing housing counseling information

Restates 2013 guidance; adds new instructions
Ben Lane
The Consumer Financial Protection Bureau issued a final interpretive rule establishing lenders’ requirements for providing mortgage applicants with a list of local homeownership counseling organizations. Lenders, here's what's now required of you.
Read More

NewDay Financial fined for widespread cheating on licensing exams

Chief operating officer ordered to resign position
Ben Lane
NewDay Financial, which was already in hot water with the Consumer Financial Protection Bureau over its business practices, is now in the crosshairs of another financial regulator, this time for rampant cheating on mortgage loan originator license testing.
Read More

JPMorgan’s Dimon to Sen. Warren: Hit me with a fine. We can afford it

New afterword from Warren’s book reveals tense exchange
Ben Lane
It’s probably safe to say that of all the elected officials that walk the halls on Capitol Hill, Sen. Elizabeth Warren isn’t Wall Street’s favorite, but a newly released excerpt from Warren’s book “A Fighting Chance,” shows just how tense her interactions with Wall Street’s bigwigs can be.
Read More

CFPB releases 'Know Before You Owe' shopping toolkit

Designed to help buy a home
Brena Swanson
With the Consumer Financial Protection Bureau’s “Know Before You Owe” mortgage rule soon coming into implementation, the CFPB released a new toolkit to guide consumers through the process of shopping for a mortgage and buying a home.
Read More

CFPB: No concrete plans to extend TRID

Aug. 1 still the implementation date
Brena Swanson
Industry talk quickly spread after a speech on Wednesday by Steven Antonakes, deputy director of the Consumer Financial Protection Bureau, where he seemed to suggest that the CFPB might delay the Integrated Disclosure deadline. The CFPB is putting an end to the rumors.
Read More

U.S. Senator: CFPB is rogue agency dishing out malicious financial policy

Sen. David Perdue wants CFPB under congressional oversight
Ben Lane
It’s clear that the Consumer Financial Protection Bureau and its behavior elicit strong opinions from Capitol Hill and beyond. And now, one U.S. Senator is calling the CFPB a “rogue agency” that needs to be seriously reined in.
Read More

Former CFPB executive highlights hot spots in TILA/RESPA

What’s coming in August 2015
Brena Swanson
On Aug. 1 the industry will be forced to comply with the Consumer Financial Protection Bureau’s Truth In Lending Act and the Real Estate Settlement Procedures Act. Former Consumer Financial Protection Bureau deputy assistant director helps to process the complexities of the new rules.
Read More

The CFPB identifies 6 compliance violation trends

Number three bodes ill for TILA-RESPA problems
Brena Swanson
The Consumer Financial Protection Bureau pulls back the curtain on what violations they are seeing most. Do you fall into any of six mortgage violation trends the bureau identifies?
Read More

Danger ahead from lenders courting subprime borrowers?

One former lender says credit score not enough of a metric
Trey Garrison
With news that some lenders have ramped up loans to subprime borrowers, there may be some warning signs of a possible repeat of banking issues.
Read More