The CFPB’s latest supervisory highlight report red flags mortgage servicing violations, where firms failed to provide loss-mitigation notices in time after natural disasters.
Brian Johnson, deputy director at the CFPB, has left the agency for a position at law firm Alston & Bird. His departure brings the tally of political appointees leaving the bureau to four.
A court settlement has forced the CFPB to outline proposed rulemaking on data collection requirements in the small-business lending space no later than September.
CRA proposal comment period extended; enforcement against brokers charging high interest rates; CFPB advisory committee meetings; New York mortgage-related complaints; new servicing requirements.
Mr. Cooper, the nation’s third largest residential servicer, reported strong earnings for the fourth quarter, aided by deferred tax assets and a mark-to-market gain.
Officials from the Federal Reserve have warned about redlining and steering risks from digital targeted advertising, though it may be the best way for lenders to market their products.
Alternative data, machine learning, blockchain and document digitalization in securitization deals have the potential to improve credit quality, but they are untested and come with risks, says Moody’s.