A broad coalition of trade groups raised concerns that the proposal would lead to frivolous lawsuits and potential consumer harm.

The CFPB reached settlements with Freedom Mortgage Corporation and Realty Connect, a real estate brokerage. The firms will pay a total of around $2 million for various allegations around illegal referrals.

Some 43 loans tied to coworking space provider WeWork are spread across 84 commercial MBS, according to KBRA.

Consumer advocates are working to establish state Community Reinvestment Act requirements for nonbanks.

DBRS said it’s in talks with the SEC to resolve a potential enforcement action related to its compliance with recordkeeping requirements.

The Federal Trade Commission, Black Knight and Intercontinental Exchange have filed a joint stipulation for dismissal of FTC’s antitrust lawsuit.

Borrowers express frustrations when they’re constantly transferred or handed off to another customer service representative.

An analyst at J.D. Power said servicers must proactively communicate with borrowers and offer digital channels through which consumers can easily find solutions to their problems.

The CFPB said several nonbanks that have come under its oversight following a procedural rule issued in November 2022 are cooperating with the agency to iron out compliance problems before it’s too late.