Tag Archives: consumer financial protection bureau

Manufactured homebuilder’s lender draws regulatory scrutiny

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Vanderbilt Mortgage, which also does business as Silverton Mortgage, is accused by CFPB of approving loans that it should have known borrowers couldn’t repay Continue reading →

5 real estate stories you might have missed during the holidays

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In case you missed it, here are five stories from the holiday season that you may want to get caught up on, including a roundup of predictions from some of the real estate world’s biggest players. Continue reading →

Rocket accused of using ‘kickback scheme’ to attract more borrowers

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The Consumer Financial Protection Bureau claims Rocket gave real estate agents incentives to steer consumers away from other companies. Rocket calls the allegations a “lie” and political ploy. Continue reading →

CFPB tightening underwriting for PACE energy improvement loans

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PACE lenders object to rule requiring them to evaluate borrowers’ ability to repay and provide more comprehensive disclosures so homeowners can comparison shop for other types of financing. Continue reading →

Redlining settlement wouldn’t resolve 1st Amendment questions

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The CFPB claimed statements made by hosts of Townstone Financial’s AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage. Continue reading →

Fairway blasts federal regulators in $10M redlining settlement

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Nation’s third biggest lender casts itself as a victim of politics, noting CFPB launched its investigation the day after Biden Administration took office. Continue reading →

Consumers want lowest mortgage rate, but most won’t shop for it

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ICE Mortgage Technology survey finds 84 percent of homeowners who have taken out a mortgage in the last five years only considered one or two lenders before closing the deal. Continue reading →

Project to tackle appraisal bias continues with Nov. 1 hearing

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The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for a hearing on tackling appraisal bias. Continue reading →

ACI paying another $20M to settle mortgage payments debacle

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In settling with state regulators, the Miami-based electronic payment processor is looking to close the books on a 2021 test that triggered $2.3 billion in erroneous mortgage payments. Continue reading →

Credit repair companies settle ‘hot swapping’ allegations for $2.7B

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Lexington Law and CreditRepair.com parent Progrexion filed for bankruptcy protection in June after the court ruled collection of upfront fees violated the Telemarketing Sales Rule. Continue reading →