Tag Archives: Consumer Financial Protection Bureau (CFPB)

A panel of experts will discuss the reach of Section 1071 of the Dodd-Frank Act, a measure that requires financial institutions to collect and report data on small business loans, in the next chapter of the Five Star Institute Webinar Series.

New proposed rule by the Bureau would guard against unscrupulous practices and prevent unnecessary mortgage foreclosures for Property Assessed Clean Energy (PACE) loans.

The MBA has filed an amicus brief arguing against lenders being held liable for the actions of independent appraisers in instances where bias is concerned.

The Bureau’s new rule will provide data on small business lending to give investors and lenders more insight into identifying opportunities that support economic growth.

CFPB seeks info from the public to assist with rulemaking under the Fair Credit Reporting Act regarding data brokers.

In April, the Five Star Institute will present its annual Government Forum, an event bringing together mortgage servicers and government officials under one roof to share their perspectives on the industry.

“Our analysis of credit reports provides yet another indicator that, due to a strong labor market and emergency programs during the pandemic, household financial distress reduced over the last two years,” said CFPB Director Rohit Chopra.

Greg Austin of Carrington Mortgage Services explains that, amid recent market changes, and as lenders re-enter the non-QM space, borrowers are calling on brokers to establish smart partnerships.

Non-English-speaking borrowers remain an underserved market and potential revenue source, but lenders seeking to serve that market need to first consider several things.

Many housing companies and landlords across the country can and do require a background check as part of the application process, along with the traditional credit check, but the unverified or inaccurate information contained in them usually hurts renters first.