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Mortgages UDAAP

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Ballard Spahr LLP

CFPB rescinds 67 guidance documents

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Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents  issued since the bureau began operating in 2011....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Sheppard Mullin Richter & Hampton LLP

Pennsylvania AG Alleges Mortgage Brokers Engaged in Illegal Referral Scheme

On January 17, the Pennsylvania Attorney General filed a civil enforcement action in the U.S. District Court for the Eastern District of Pennsylvania against a group of mortgage brokers and their manager, alleging that they...more

Bradley Arant Boult Cummings LLP

Litigation Risk for Mortgage Lenders with a Less Active CFPB

With the recent developments at the Consumer Financial Protection Bureau (CFPB), many mortgage lenders have been left wondering about the extent to which the CFPB will enforce federal laws governing the mortgage lending...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2025 - June in January with the CFPB

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In this month's article, we share some of our top "bites" covered during the January 2025 webinar....more

Venable LLP

CFPB Homes in on Mortgage "Junk Fees"

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Recent releases from the Consumer Financial Protection Bureau (CFPB) show that the mortgage industry is in the crosshairs of the CFPB's campaign against so-called junk fees. Earlier this year, the CFPB indicated its interest...more

Goodwin

CFPB Bemoans “Junk Fees” in Mortgage Servicing

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On April 24, 2024, the CFPB released its Supervisory Highlights, Mortgage Servicing Edition, (Issue 33, Spring 2024) which provides insight on the CFPB’s current focus in examining mortgage loan servicers. According to the...more

Husch Blackwell LLP

CFPB Crusade Continues: Mortgage Servicers and "Junk Fees"

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Continuing its vigorous effort to eliminate so-called “junk fees,” and detailing other problematic mortgage servicer activities, the Consumer Financial Protection Bureau (CFPB) recently released its Spring 2024 Supervisory...more

Troutman Pepper Locke

CFPB Releases Special Edition of its Supervisory Highlights Focusing on Mortgage Servicers’ Alleged “Junk Fees”

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On April 24, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights report focusing on examinations of the residential mortgage servicing market that were completed...more

Hudson Cook, LLP

CFPB Bites of the Month - March 2024 - Here Comes the Sun and the CFPB

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In this month's article, we share some of our top "bites" covered during the March 2024 webinar. Bite 10: CFPB Issues Statement on Privacy and Personal Data - On February 28, 2024, the CFPB issued a statement on...more

Alston & Bird

CFPB’s War on Mortgage Fees Continues

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What Happened? Immediately following President Biden’s State of the Union Address announcing plans to lower homebuyer and refinancing costs, the CFPB issued a blog post seeking public input on how mortgage closing costs...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Debt Collection

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to debt collection. If debt collection in 2023 had a theme it would be medical debt....more

Ballard Spahr LLP

CFPB Language Access Plan for Consumers with Limited English Proficiency

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Throughout the past few years, the CFPB has sought input from a range of stakeholders, including community-based organizations and financial institutions, for feedback about how it can improve consumer financial products and...more

Ballard Spahr LLP

CFPB Director Rohit Chopra Addresses Mortgage Post-Crisis Reforms and Importance of Consumer Protection Regulations

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Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra recently addressed The Mortgage Collaborative National Conference recounting the Congressional response to the mortgage industry crisis that began in 2008 that...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Ballard Spahr LLP

CFPB Summer 2023 Supervisory Highlights looks at auto origination and servicing, consumer reporting, debt collection, deposits,...

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The CFPB has released the Summer 2023 edition of Supervisory Highlights.  The report discusses the Bureau’s examinations in the areas of auto origination and servicing, consumer reporting, debt collection, deposits, mortgage...more

Troutman Pepper Locke

CFPB’s Summer Edition of Supervisory Highlights Focuses on Auto Lending/Servicing and Debt Collection Practices

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On July 26, the Consumer Financial Protection Bureau (CFPB or Bureau) released the summer edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2023

FDIC and OCC Issue Guidance on Authorize Positive, Settle Negative Overdraft Fee Risks. The FDIC and the OCC each have issued supervisory guidance on consumer compliance risk exposure related to the assessment of overdraft...more

McGlinchey Stafford

What Mortgage Servicers Need to Know About CFPB’s Junk Fees Update

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In early March 2023, the Consumer Financial Protection Bureau (CFPB) issued a special edition of its Supervisory Highlights that focused exclusively on “junk fees” uncovered in supervisory examinations in various industries,...more

Sheppard Mullin Richter & Hampton LLP

District Court Dismisses CFPB Redlining Action Against Nonbank, Limits ECOA’s Reach

On February 3, the U.S. District Court for the Northern District of Illinois issued an opinion and order dismissing with prejudice the CFPB’s complaint for violations of the ECOA against a mortgage lender and its owner...more

Ballard Spahr LLP

CFPB Suffers Significant Defeat In ECOA Lawsuit Against Townstone Mortgage

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As previously reported, in July 2020 the CFPB filed the first ever redlining complaint against a nonbank mortgage company, Townstone Mortgage (Townstone), under the Equal Credit Opportunity Act (ECOA) and Consumer Financial...more

Bradley Arant Boult Cummings LLP

We Wish You a Happy Thanksgiving as We Count Our Blessings

As we all hit the grocery store for that forgotten cranberry sauce and send a few last urgent work emails, we hope everyone is able to be with friends and family this Thanksgiving. Here at Bradley, we are counting our...more

Ballard Spahr LLP

CFPB issues annual fair lending report (UPDATED)

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The CFPB recently issued its annual fair lending report covering its fair lending activity in 2021. ...more

Ballard Spahr LLP

Connecticut federal court allows CFPB claims to proceed against mortgage company and principals for alleged licensing and other...

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A Connecticut federal district court has refused to dismiss claims filed by the CFPB against a mortgage company and three of its principals for alleged Truth in Lending Act (TILA), Mortgage Act and Practice (MAP) Rule, and...more

Ballard Spahr LLP

CFPB Settles Claims For Alleged UDAAP And FCRA Violations By Companies Issuing Contracts For Deeds

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The CFPB has entered into a consent order with three companies to settle the Bureau’s claims that the companies violated the Dodd-Frank UDAAP prohibition and the FCRA in connection with contracts for deeds that they issued...more

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