CFPB

“Banks should be competing to provide better products at lower costs, not innovating to impose extra fees for no value. The CFPB will continue to rid the market of junk fees today and prevent new junk fees from emerging in the future,” said CFPB Director Rohit Chopra.

The annual National Property Preservation Conference once again brought together a cross-section of field services vendors, mortgage servicing professionals, and representatives of government agencies and the GSEs to “discuss pressing issues and develop solutions.”

A CNN analysis of CFPB lending data reveals that Navy Federal Credit Union has been denying people of color home mortgages at rates much higher than seen elsewhere.

The House Financial Services Committee recently gathered a panel of housing experts to analyze affordability challenges in the housing marketplace, with a focus on governmental barriers such as zoning policies that have exacerbated these issues.

The CFPB, Federal Reserve Board, and OCC have jointly launched new thresholds for smaller loan exemption from appraisal requirements for higher-priced mortgage loans for 2024.

In its annual report on residential mortgage lending activity and trends, the Bureau found that mortgage lending fell in 2022 amid a significant rise in interest rates and discount points.

Kim Yowell of Fairway Independent Mortgage was honored at the Keys for Life Gala in Dallas during the Five Star Conference for her contributions to the mortgage marketplace.

The semi-annual Legal League Fall Servicer Summit was held as part of the Five Star Conference & Expo in Dallas, as the industry's foremost experts discussed the latest compliance issues facing the industry.

The share of mortgages originated by non-depository, independent mortgage companies decreased in 2022—but still accounted for 60.2% of first-lien, one- to four-family, site-built, owner-occupied home-purchase loans (down from 63.9% in 2021).

A panel of experts assembled by the Five Star Institute and Treliant break down the recent implementation of Section 1071 of the Dodd-Frank Act and how financial institutions are collecting and reporting data on small business loans.