Attention lenders: The CFPB is now focusing more on fair lending in mortgages

But it’s not all cybersecurity: the FTC’s recently issued Staff Perspective indicates renewed attention on several more areas of fair lending compliance. Michael told us the Commission is focusing on the Military Lending Act and other issues affecting military consumers; illegal debt collection practices; and unfair, deceptive, or abusive acts and practices .

5% 30-year mortgage rates to come? Existing-home sales plummet 15.3% in May but even the 4.5% rate on a 30-year fixed-rate mortgage quoted by Fannie Mae this month — the lowest since December — haven’t helped year-to-date existing home sales plummet to 13% of what they were.Assuming a $200,000 loan with interest rates of 6% for a 30 year and 5.25% for a 15 year, after just five years a borrower with a 15 year will have $35,000 more equity in their home than a person with a 30-year. After the 15 years, a person with a 30 year will still have $144,000 pinciple balance left.

So, continuing issues with HMDA, the volatility at the CFPB, and digital mortgages are going to produce the most pressing new compliance issues. I believe the compliance impact of the progression to digital mortgages and an increased focus on fair lending will be the most impactful issue before the end of 2018.

The consumer financial protection bureau (cfpb) has issued its final rule outlining information lenders must report under the Home Mortgage Disclosure Act (HMDA. fair lending compliance and access.

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The Bureau of Consumer Financial Protection (Bureau) is issuing its sixth Fair Lending. mortgage lending remained a priority for the Bureau's fair lending supervisory and enforcement activity, focusing on. Nationstar, a nationwide nonbank mortgage lender headquartered in Coppell, Texas (now doing.

by Mitch Kider. In today’s environment, compliance with fair lending requirements is a critical aspect of any mortgage lender’s operations. Mortgage banking regulators, in particular the Consumer Financial Protection Bureau (CFPB), are focused on ensuring that consumers are treated fairly, without regard to their gender, race, national origin, or other similar factors.

Changes ahead for reverse mortgages. One potential change that is being discussed by the lending community and the CFPB involves the rules around origination fees that brokers and lenders can charge on mortgage loans.. Another agency effort toward borrower-facing change is to combine mortgage disclosures including the Truth in Lending Disclosure and the HUD-1 Settlement Statement into a single.

KEYWORDS Discriminatory lending. the CFPB. Here are just a few areas where the industry is urging policy makers to focus: Revise the QM rule to allow lenders to responsibly extend credit to.

Retail home sale prices 88% higher than California REO Jobless claims slip by 2,000 filings First-time claims for state unemployment benefits were expected to total 210000 in the most recent week, up from the 203000 claims filed in the previous week.. Initial claims for state unemployment benefits slipped 1,000 to a seasonally. to show 2,000 more applications received than previously reported.With land prices on the rise, Israeli investors have emerged as one of the most active groups of real estate buyers in New York. a higher risk tolerance, Israelis in the market right now “are more.

Passing the NMLS Exam - What is the CFPB 9 fair lending report of the consumer financial protection bureau, december 2012 In addition to responsibilities for ECOA and HMDA, Congress also charged the CFPB with addressing a number of fair lending-related areas of interest, set forth in the Dodd-Frank Act.

New FHFA working paper reimagines housing crash A year into its latest effort to clear the wreckage left from the housing crash and subsequent recession that left. In September 2012, the FHFA proposed new fees that would increase the costs of.