An upcoming Senate Banking Committee hearing will discuss with a panel of experts the growth of artificial intelligence and how its usage in the housing marketplace will be regulated as AI continues to evolve at a rapid pace.
Read More »New CFPB Rule Cracks Down on Junk Fees
“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.
Read More »Call Centers Under New Scrutiny for ‘Soft Skills’
Samantha Shanaberger of Clayton Servicing Oversight examines the policies and practices of servicer call centers, and how these centers must remain vigilant of changing rules and regulations.
Read More »The Mystery of Overdraft Fees
Overdraft and NSF fees are still hitting consumer’s bank accounts, to their surprise, every year to the tune of billions of dollars according to the Consumer Financial Protection Bureau.
Read More »New Appraisal Requirements Announced for Higher-Priced Mortgages
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.
Read More »Report: Just How Commonplace Is Appraisal Bias?
The American Enterprise Institute has analyzed the FHFA’s appraisal-level dataset, digging deeper into a selected set of data fields found in appraisal reports. Click through to find out some of AEI’s findings regarding valuation bias.
Read More »CFPB: Rate Environment Dictated the Mortgage Market in 2022
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.
Read More »New Report Examines the Harm of Tenant Screening on Renters
The National Consumer Law Center has issued a report on how errors and bias in the screening process disproportionately harms Black and Latino/Hispanic renters.
Read More »Section 1071’s Impact on Fair Lending Laws
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.
Read More »PAVE Task Force Takes New Actions to Address Appraisal Bias
A series of actions set forth by the Biden Administration aims to strike out appraisal bias and level the playing field in building generational wealth via homeownership.
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