Google is partnering with mortgage tech vendor Roostify as it launches Lending DocAI, a digital front-end product. Mortgage tech watchers wonder just how big the search engine giant might become in mortgages.
Among the allegations: Low VA Rates advertised loan terms that it wasn’t actually prepared to offer. The agency said the nonbank has mailed millions of mortgage advertisements to consumers since January 2016.
The new expiration date will be tied to the mandatory compliance date for the revised general QM rule, or when the GSEs exit conservatorships, whichever comes first.
The CFPB has created a new office within the supervision, enforcement and fair lending division to assign cases to the enforcement office. Critics say the change will weaken the bureau’s enforcement power.