Tag Archives: consumer financial protection bureau

Spike in refis led last year’s home-lending boom, new data shows

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Lenders in 2020 refinanced more than twice as many loans as they reported the previous year, a dramatic feature of the pandemic lending boom. Continue reading →

FTC and CFPB to landlords: We’ll hold you accountable to eviction ban

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The joint letter issued to landlords entreated them to ensure that they and their debt collectors were fully complying with the FTC Act and the Fair Debt Collection Practices Act. Continue reading →

Servicer Mr. Cooper investigated for unauthorized withdrawals

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Mr. Cooper announced that many of its consumers had unauthorized withdraws, now the Consumer Financial Protection Bureau is looking into the matter and the adverse effects it may have. Continue reading →

Nationwide Equities fined $140K for alleged deceptive advertising

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The Consumer Financial Protection Bureau says the lender “misled borrowers into believing they could not lose their homes with a reverse mortgage.” Continue reading →

Forbearance rate drops for seventh week in a row

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At 4.5 percent, the mortgage forbearance rate is 18 times higher than before the pandemic, but much improved from a high of 8.55 percent in June. Continue reading →

Keep your eye on these top 10 purchase lenders this year

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Refinances are decreasing as purchases take over market share. These top 10 purchase lenders from 2020 are best prepared to dominate lending in 2021. Continue reading →

Fannie, Freddie to adopt new underwriting standards for qualified mortgages on July 1

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Mortgage Bankers Association says lenders have been gearing up for changes, and new standards will actually increase access to credit. Continue reading →

What the proposed CFPB rules mean for mortgage servicers

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The CFPB introduced new rules that changes the game for mortgage servicers. Experts lay out the changes that await the servicing industry. Continue reading →