The public release of the complete 2018 HMDA dataset may lead to more fair lending scrutiny as it contains more information and is easy to access. Should lenders be concerned?
The CFPB fined Freedom Mortgage $1.75 million to settle allegations that the nation’s eighth largest home originator intentionally reported inaccurate data under the Home Mortgage Disclosure Act.
Residential servicer BSI Financial Services agreed to pay roughly $230,000 for mishandling mortgage servicing transfers. It marks the first mortgage-related enforcement action under Director Kathy Kraninger.
The Government Accountability Office recommended that the CFPB clarify which financial institutions can offer rehabilitation programs to private student loan borrowers. But the bureau decided otherwise.
The adoption of new technologies will pose challenges for originators to comply with fair lending rules and for regulators to detect hidden discrimination.
Senators Seek Data on CFPB Oversight of Student Loan Servicers; House Financial Services Committee Approves Waters’ CFPB Bill; Utah Creates a Regulatory Sandbox for Fintech Firms; CFPB Settles with Online Lead Aggregator.
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