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
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
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
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
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
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
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
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