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.
Lenders now have 15 more months to comply with the underwriting requirements of the payday lending rule. The CFPB is still considering rescinding that portion.
Ron Haynie, senior vice president of mortgage finance policy for the Independent Community Bankers of America, said smaller institutions have already benefited from reg relief…
One year after the passage of the Dodd-Frank reform act, community banks say they have been benefiting from regulatory relief, but further implementation of some provisions is still needed.
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.
A number of states, including Illinois and New Hampshire, last month amended their licensing rules to address certain challenges faced by mortgage lenders.