Popular, Consumer Financial Protection Bureau (CFPB), Mortgage Lenders

CFPB Bites of the Month - April 2025 - "I'll Remember April and the CFPB"

Hudson Cook, LLP on 4/22/2025

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

CFPB highlights challenges faced by successor homeowners in assuming mortgages

Orrick, Herrington & Sutcliffe LLP on 12/26/2024

On December 17, the CFPB released an Issue Spotlight reporting on challenges that homeowners often face with mortgage servicing companies after a divorce or the death of a loved one which may cause them to become homeowners....more

CFPB Issues New Rule on Use of Artificial Intelligence Models in Mortgage Lending

Goodwin on 7/12/2024

On June 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had approved a new rule about the use of algorithms and artificial intelligence (AI) for home appraisals and valuations....more

Bank of America Enforcement Action and Using Data Analytics

Thomas Fox - Compliance Evangelist on 12/7/2023

Data analytics has become an essential tool in the field of compliance and risk management. It allows compliance officers to assess the effectiveness of their programs and identify potential risks before they escalate into...more

Townstone Mortgage files brief with Seventh Circuit in CFPB appeal from district court ruling that ECOA only applies to applicants

Ballard Spahr LLP on 8/23/2023

Townstone Mortgage (Townstone) has filed its brief in the CFPB’s appeal to the U.S. Court of Appeals for the Seventh Circuit from the district court’s decision in the CFPB’s enforcement action against Townstone. In the...more

CFPB Appeals District Court’s Dismissal of Nonbank Redlining Action

Goodwin on 4/26/2023

On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) filed a notice to appeal a district court’s decision to dismiss its complaint against Townstone Finance, Inc. (Townstone), a nonbank mortgage lender, and its...more

The COVID-19 National Emergency is Ending: Are mortgage servicers ready?

Alston & Bird on 2/27/2023

A&B Abstract: On January 30, 2023, President Biden informed Congress that the COVID-19 National Emergency (the “COVID Emergency”) will be extended beyond March 1, 2023, but that he anticipates terminating the national...more

CFPB Issues Rules to Assist Borrowers and Mortgage Lenders and Servicers Following Expiration of Federal Foreclosure Moratoria

Blank Rome LLP on 7/2/2021

On June 28, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule (the “2021 Mortgage Servicing COVID-19 Rule”) amending Regulation X to protect borrowers from financial distress upon expiration of...more

CFPB Enters Into Consent Order With Reverser Mortgage Lender and Broker

Ballard Spahr LLP on 5/5/2021

The CFPB recently entered into a consent order with Nationwide Equities Corporation (Nationwide), which the CFPB refers to as a mortgage broker and mortgage lender that primarily provides jumbo reverse mortgage loans and Home...more

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on 1/29/2021

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

COVID-19, the CARES Act and the Impact on Mortgage Forbearance

Spilman Thomas & Battle, PLLC on 11/18/2020

In response to the coronavirus pandemic, the federal government passed the CARES Act, which provides a number of protections to homeowners unable to pay their mortgages. The CARES Act prohibits any home foreclosures before...more

Washington Amends Consumer Loan Act Regulations: What Mortgage Servicers and Passive Investors Need to Know

Alston & Bird on 8/29/2018

Washington has joined the ranks of states requiring licensing of mortgage servicing rights holders and added tougher rules for recordkeeping, compliance, and offshoring activities. Our Financial Services & Products Group...more

Back from the Dead: The D.C. Circuit Breathes Life Into RESPA Section 8 Safe Harbor

K&L Gates LLP on 2/5/2018

Through its recent en banc decision in PHH Corp. v. Consumer Financial Protection Bureau, the D.C. Circuit reinstated the holding of the three-judge panel regarding the safe harbor provision in Section 8(c) of the Real Estate...more

Electronic Mortgage Closings Improve Homebuying

Kilpatrick on 11/13/2017

The financial services industry — and the consumer financial services marketplace in particular — is experiencing significant innovation. Technology has facilitated the emergence of fintech as a major industry — fundamentally...more

3 Takeaways (a Litigator’s Perspective) from CFPB Supervisory Highlights

BCLP on 6/28/2016

The CFPB recently issued its newest edition of Supervisory Highlights Mortgage Serving Special Edition, Issue 11 (June 2016). From a litigator’s perspective, the Supervisory Highlights do more than summarize recent...more

CFPB Announces Dollar Threshold Adjustments to the Truth in Lending Act

BakerHostetler on 6/23/2016

The Consumer Financial Protection Bureau (CFPB) recently released a final rule amending the dollar thresholds in Regulation Z, which implements the Truth in Lending Act (TILA). The CFPB’s final rule has two primary effects....more

CFPB Takes Enforcement Action Against Loan Officer for Alleged Mortgage Fee Kickback Scheme

BakerHostetler on 5/30/2016

Yesterday, the Consumer Financial Protection Bureau (CFPB) announced the issuance of a consent decree with a former mortgage loan officer arising out of alleged violations of the Real Estate Settlement Procedures Act’s...more

CFPB Field Hearing May Unveil New Rule on Arbitration Agreements

Baker Donelson on 5/2/2016

The CFPB is continuing its march towards a new rule governing the use of arbitration clauses in consumer lending contracts. On April 20, the Bureau announced its next step will be to conduct a field hearing in Albuquerque,...more

D.C. Circuit Appears Poised to Overturn First CFPB Enforcement Action to Reach the Court: Five Key Takeaways From Yesterday’s Oral...

K&L Gates LLP on 4/15/2016

Major financial firms almost never litigate with their regulators. As a result, regulators often take aggressive enforcement positions with little fear of judicial scrutiny. That’s been especially true for the Consumer...more

Today's Popular Updates › Consumer Financial Protection Bureau (CFPB) › Mortgage Lenders