Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
The Latest on Junk Fees and New York's Foreclosure Abuse Prevention Act — The Consumer Finance Podcast
The Latest on HUD's Disparate Impact Rule - The Consumer Finance Podcast
Title Insurance and Your Transaction
Law Brief®: Robert Wolf, Alexander Tiktin and Richard Schoenstein Discuss the Continuing Foreclosure/Eviction Moratorium
Credit Eco to Go Podcast - Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
Not a Normal Mortgage Crisis: How the Mortgage Industry Weathered the Pandemic
The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from two states: California: Effective January 1, California Assembly Bill 3108 addresses mortgage fraud. ...more
On January 10, 2025, the Maryland Office of Financial Regulation issued emergency regulations revised to clarify that “passive trusts” holding residential mortgage loans must obtain a Mortgage Lender License and if the trusts...more
The Majority Group Partner Anne Canfield joins Sasha Leonhardt and Jerry Buckley to explore legislative changes that could facilitate digital mortgages and cut thousands of dollars from the cost of mortgage origination. Anne,...more
On September 17, the DOJ and HUD announced a settlement with a New Jersey-based bank to resolve “redlining” lending discrimination allegations. The DOJ’s complaint claimed that from 2018 through at least 2022, the bank failed...more
As interest rates drop, the CFPB is exploring ways to streamline mortgage rules to make the refinancing process easier and closing costs less expensive, Director Rohit Chopra said at a housing conference sponsored by the...more
NYU economics professor Larry White joins RegFi co-hosts Jerry Buckley and Caroline Stapleton to discuss a range of current issues facing the financial services industry. Professor White provides data on the significant...more
In this episode of Financial Services Focus, Eric Edwardson, Lauren Pryor and Chris Smith discuss selected key terms of purchase and sale agreements for residential mortgage servicing rights, exploring the typical...more
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it had entered into a consent order with NewDay USA, a Florida-based non-bank direct mortgage lender, over allegations that the lender misled...more
The Supreme Court of the State of New York, County of Westchester, recently held that the doctrine of res judicata bars a lender’s claim that a borrower’s subsequent transfers of property are void, if the claim is brought...more
In this month's article, we share some of our top "bites" for the prior and current month covered during the July 2024 webinar....more
What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to borrowers...more
The Consumer Financial Protection Bureau (CFPB or Bureau) recently released its semi-annual regulatory agenda, outlining its planned rulemaking initiatives. The CFPB releases regulatory agendas twice a year in voluntary...more
The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more
The CFPB recently issued its long-awaited proposed rule amending the mortgage servicing rules under Regulation X, with a focus on streamlining and expanding the loss mitigation procedures and foreclosure protections. The...more
As discussed here, on February 3, 2023, an Illinois federal court dismissed a case brought by the Consumer Financial Protection Bureau (CFPB or Bureau) in 2020 against Townstone Financial, Inc., a Chicago mortgage lender, for...more
On April 2, 2024, a putative class action was brought against United Wholesale Mortgage (UWM) alleging, among other claims, violations of Section 8(a) of the Real Estate Settlement Procedures Act (RESPA). The lawsuit contains...more
In the Consumer Financial Protection Bureau’s (“CFPB’s”) most recent Supervisory Highlights, published on April 24th, the agency identified a wide variety of fees that were improperly charged to mortgage borrowers. As...more
Welcome to the Mortgage Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Enforcement efforts are expected to increase in 2024 and will...more
A&B Abstract: On January 24th, the Washington Department of Financial Institutions (the “DFI”) conducted its first Mortgage Industry Webinar of 2024 and provided updates in the areas of licensing, examination, and...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to mortgage along with some additional related information. ...more
In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more
The CFPB and Justice Department filed a joint complaint last week in a Texas federal district court against Colony Ridge Development, LLC and three related entities (collectively, “Colony Ridge”) in which the agencies allege...more
The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more
The pace of legislative activity during this current year can make it hard to stay abreast of new laws. The Consumer Finance State Roundup is intended to provide a brief overview of recently enacted legislation of potential...more
On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) issued its Summer 2023 Supervisory Highlights describing key findings and violations identified during examinations conducted between July 2022 and March 2023....more