News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Mortgage Loan Originators Settlement

Ballard Spahr LLP

CFPB seeking to reverse Townstone settlement, saying bureau ‘abused its power’

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Saying that the bureau under the Biden Administration abused its power, the CFPB is seeking to reverse its settlement with Townstone Financial....more

Goodwin

CFPB Settles with Nonbank Mortgage Originator for $4 Million

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On June 18, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it has filed a proposed order that would require a Florida-based nonbank mortgage loan originator to pay a $3.95 million penalty for allegedly...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2023 - Stress Awareness Month and the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the April 2023 webinar....more

Goodwin

2021 Year in Review: Consumer Finance

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[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Ballard Spahr LLP

CFPB settles second loan originator compensation case

Ballard Spahr LLP on

The CFPB entered into a stipulated order and final judgment with Franklin Loan Corporation (Franklin) to settle allegations that Franklin paid its employee loan originators compensation based on the interest rates charged on...more

Orrick - Finance 20/20

SunTrust Settles with DOJ for US$968 Million

Orrick - Finance 20/20 on

On June 17, the United States Department of Justice announced a US$968 million settlement with SunTrust Mortgage Inc. Other parties to the settlement are the Department of Housing and Urban Development, the Consumer Financial...more

Goodwin

CFPB Settles with Mortgage Company over Loan Originator Compensation Incentives

Goodwin on

The CFPB announced a proposed consent order against a mortgage company and two of its senior officers, alleging that the mortgage company, through the actions of such officers, steered consumers into mortgages with higher...more

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