The CFPB granted a no-action letter to Bank of America regarding its funding arrangement with HUD-certified housing counseling agencies. It marks the second no-action letter under the revised policy.
The CFPB released two guides on how to disclose construction-to-permanent loans under the integrated mortgage disclosure rules. The guides may spur new questions from the industry, attorneys noted.
The CFPB's assessment of the TRID rule does not mean the bureau is planning to eliminate or even modify the rule, according to attorneys watching the action.
The CFPB's recent report on mortgage servicers seems to state the obvious: the biggest shops dominate the residential loan processing market, and nonbank market share is growing.
A Florida federal judge termed a CFPB lawsuit against Ocwen Financial for widespread mortgage servicing failures as “shotgun pleading.” The court, however, allowed the CFPB to amend and refile the suit.
The Federal Deposit Insurance Corp. found violations of anti-kickback provisions under the Real Estate Settlement Procedures Act during 2018 supervision activities.
A recent court ruling that Zillow’s co-marketing program does not violate the Real Estate Settlement Procedures Act is helpful to the industry, but lenders still need guidance from the CFPB to confirm the standards set by previous rulings, said compliance attorneys. Richard Andreano, a partner at Ballad Spahr, told Inside the CFPB that it is positive for lenders that a federal judge dismissed a lawsuit challenging Zillow’s co-marketing program. The bureau itself ...