A coalition of the nation’s largest lenders, trade groups and consumer advocacy groups have suggested the elimination of the DTI ratio cap and the associated Appendix Q. However, the MBA and Democratic lawmakers have urged the bureau to tread cautiously.
The bureau is exploring the use of “Tech Sprints,” a model used in the United Kingdom for collaborative innovation, to promote regulatory compliance innovation.
The Office of the Comptroller of the Currency reminded banks of a relatively new regulation that requires larger appraisal management companies to register with states before being able to provide services.
In yet another volte-face, the CFPB now believes the rule limiting the president’s ability to fire the bureau’s head is unconstitutional, according to a brief filed last week by the Department of Justice.
The Pennsylvania AG opened a redlining investigation last year following a news report that white borrowers in Philadelphia received 10 times as many conventional mortgage loans as African-American borrowers.