Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least seven years, in some cases leading customers to lose their homes. …
Posts published in “CFPB”
CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren’t fully informed of their options. Source: Inman News
The ethics rule in question, which some regulators argue doesn’t clearly state that housing discrimination against protected classes is illegal, was contested by eight federal…
Credit bureaus have “little incentive to treat consumers fairly when their credit reports have errors,” according to the Consumer Financial Protection Bureau, which analyzed 700K…
No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing…
Wells Fargo has agreed to pay a $250M fine after an investigation by federal banking regulators found fault with its practices for helping homeowners with…
Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to…
Mr. Cooper announced that many of its consumers had unauthorized withdraws. Now the Consumer Financial Protection Bureau is looking into the matter and the adverse…
The CFPB announced that despite concerns from the housing industry, it is postponing compliance with its new QM rule until Oct. 1, 2022. Source:…
The Consumer Financial Protection Bureau says the lender “misled borrowers into believing they could not lose their homes with a reverse mortgage.” Source: Inman News