Rohit Chopra, Director of the CFPB, said, “Companies are not absolved of their legal responsibilities when they let a black-box model make lending decisions.”
Read More »Bureau Launches New Effort to Promote Competition and Innovation
The Consumer Finance Protection Bureau is closing one office but opening another to promote competition and innovation in consumer finance.
Read More »Pending Home Sales Down for Fifth Consecutive Month
According to the latest Pending Home Sales Index (PHSI) from the National Association of Realtors (NAR), pending home sales slipped 4.1% month-over-month in March, marking the fifth consecutive ...
Read More »CFPB Outlines Algorithmic Appraisals
Newly implemented standards will help protect homebuyers and owners from bias and inaccuracy during the home valuation process.
Read More »Renters at Greater Risk Than Homeowners After Protections End
As COVID-19 safety nets end, a report by the Consumer Finance Protection Bureau shows minority renters face the greatest challenges.
Read More »CFPB/FHFA Poll Examines Pre-Pandemic Borrower Experience
Officials say the data provides a baseline for mortgage market trends and consumer sentiment about the origination process prior to COVID-19.
Read More »Analyzing Seasoned QM Loans
The CFPB's "seasoning pathway to safe harbor is not a panacea," researchers noted, “but at the margin, the pathway will expand the credit box."
Read More »Questions to Ask: The Uniform Residential Loan Application
The redesigned URLA includes additional demographic information to help regulatory agencies identify discrimination patterns in the mortgage industry. Preparation is the key to avoiding any disruption to your business.
Read More »CFPB Issues Final Rule on Extending the GSE Patch
The CFPB aims to "ensure a smooth and orderly transition away from the GSE Patch." Here's how long the Bureau is extending it to aid in this transition.
Read More »Director Kraninger Delivers CFPB Update to Congress
During her testimony before the Senate Committee on Banking, Housing, and Urban Affairs, Director Kathleen Kraninger discussed recent enforcement actions, but faced pushback from some critics.
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