CFPB issues FAQs on buy now pay later products; CFPB provides new guidance on overdraft fees; CFPB sues credit card issuer; CFPB fines TD Bank for misreporting consumer information.
Banks and thrifts reported $44.54 billion in retail mortgage production in the second quarter, making it the strongest three-month period for bank retail lending since the third quarter of 2022. (Includes two data tables.)
Soaring home price appreciation in recent years has created plenty of tappable home equity. Firms offering equity-extraction products use various techniques to make homeowners aware of their offerings.
Outsourcing underwriting tasks to offshore contractors can help reduce production costs for mortgage lenders, according to an executive at Verity Global Solutions.
Housing counseling agencies should partner with lenders, nonprofits and government housing agencies to develop fee-for-service models to tap additional funding, according to industry experts.
Although a Republican victory in November might revive efforts to release the GSEs from conservatorship, this would likely be a multi-year effort, according to the former FHFA director.
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