Attention lenders: The CFPB is now focusing more on fair lending in mortgages

Because originations started to swell 10 years ago, when underwriting standards were looser, banks now face an aftershock of the pre-crisis lending boom. adding that more than 85 per cent of the.

Do you know the CFPB’s top three Fair Lending compliance priorities for 2017? And more importantly, do you know your risk? In this post, learn the Bureau’s 3 Fair Lending priorities and how to manage your risk! The Consumer Financial Protection Bureau recently released the 2017 fair lending report, which included their top Fair Lending.

Pending home sales hit two-year high: NAR Pending home sales hit 3-year low.. The Pending home sales index fell 4.7% to 104.6 in January from the revised 109.8 in December, according to the National Association of Realtors (NAR)..

In any event, she listed small business loans as the CFPB’s fourth fair lending product priority after mortgages, auto loans and credit cards. Second, she said the CFPB is focusing on LGBT consumers and the challenges they face.

Brookings describes the event as "a conversation about the effects of the fintech boom, with a particular focus on regulation and public. members with home ownership through mortgage lending.

Changes ahead for reverse mortgages. One potential change that is being discussed by the lending community and the CFPB involves the rules around origination fees that brokers and lenders can charge on mortgage loans.. Another agency effort toward borrower-facing change is to combine mortgage disclosures including the Truth in Lending Disclosure and the HUD-1 Settlement Statement into a single.

FHA eases new rule on collections accounts  · As a result of the previous fha rules, just 2,100 of the estimated 25,000 condominium developments nationwide that were eligible for unit financing were recertified by late last year, according to the agency. Insurance volume also has plummeted. FHA estimated that it would insure 110,000 condo unit loans during fiscal 2012, which ends this month.

WASHINGTON – The Consumer Financial Protection Bureau finalized a rule Thursday that requires lenders to collect more information. focus their attention on the riskiest areas where fair lending.

Attention lenders: The CFPB is now focusing more on fair lending in mortgages Is the FHA about to raise the HECM lending limit? Did Mick Mulvaney just drastically change how the CFPB enforces fair.

Based on the risks identified, the CFPB’s market-level focus for the past five years has been on ensuring that credit-worthy consumers are not excluded from or made to pay more for mortgages, indirect auto loans and credit cards "because of their race or ethnicity or any other prohibited basis," Cordray wrote in the bureau’s 2016.

RealtyTrac: Foreclosure activity picked up in 120 metros All told, foreclosure activity jumped in 149 of the country’s 206 largest metropolitan areas last year, foreclosure listing firm RealtyTrac Inc. said Thursday. The firm tracks notices for defaults, scheduled home auctions and home repossessions-warnings that can lead up to a home eventually being lost to foreclosure.Redefault Rates ‘Tragic’, Says Amherst Despite rate reductions seemingly being more effective than principal forgiveness in terms of re-defaults, we note that lowering the balance of a mortgage through a modification by 20% or more results in a re-default rate of 32%, compared to 43% when the balance is increased (mainly due to capitalization)-i.e., balance modifications impact.

by Mitch Kider. In today’s environment, compliance with fair lending requirements is a critical aspect of any mortgage lender’s operations. Mortgage banking regulators, in particular the Consumer financial protection bureau (cfpb), are focused on ensuring that consumers are treated fairly, without regard to their gender, race, national origin, or other similar factors.