Regulators claim lenders’ marketing agreements with more than 40 real estate brokerages, including Realty Connect USA, were a conduit for kickbacks that generated more than 1,000 mortgage referrals. Continue reading
ACI admits no wrongdoing in settling CFPB’s first-ever enforcement action over the handling of consumer data in the processing of mortgage payments. Continue reading
The Consumer Financial Protection Bureau warns of reputational and legal risks of relying on “deficient chatbots” as the primary mode of interacting with customers. Continue reading
Proposed standards would include random sample testing and reviews to ensure a “high level of confidence” in the estimates produced by AVMs. Continue reading
A homebuyer taking out a $300,000 loan could end up overpaying by $1,200 a year — and even more if they’re in the market for a jumbo, FHA or VA mortgage, according to a new CFPB analysis. Continue reading
Investors claimed they were misled about bank’s progress in fixing governance and oversight issues that came to light in wake of 2016 “fake accounts” scandal. Continue reading
Experts participating in BAD INPUT argue technology could expand access to credit, but also perpetuate discriminatory lending unless it is closely overseen. Continue reading
PACE loans can burden homeowners with higher property tax bills that heighten the risk they’ll get behind on their mortgages, federal regulators say. Continue reading
The CFPB alleges mortgage servicers charged excessive late fees, assessed “fake” private mortgage insurance premiums and made homeowners pay for unnecessary inspections. Continue reading
Regulators alleged statements made by hosts of Townstone Financial’s call-in show discouraged “prospective” African-American applicants from seeking mortgage loans. Continue reading