CFPB Exams of Nonbank Mortgage Originators Jumped Last Year
February 27, 2017
The number of mortgage-related examinations by the CFPB declined in most areas tracked by Inside the CFPB last year – with one glaring exception: The bureau’s examinations of nonbank mortgage originators, which surged 69.2 percent, according to data provided to this newsletter under the Freedom of Information Act. Such supervisory activity on the part of the CFPB directed towards depository institutions, in comparison, fell 23.3 percent year over year, and plunged 66.7 percent from the third quarter of 2016 to the fourth. That being said, depositories have borne the bulk of the brunt of the bureau’s mortgage origination scrutiny, with 21 exams in 2014 versus just 7 for nonbanks that year. In 2015, the story was the same, with banks getting [with exclusive data chart] ...