A maneuver involving Rohit Chopra and the Federal Deposit Insurance Corp. board in December 2021 was allowable under FDIC bylaws, according to an opinion published by the DOJ’s Office of Legal Counsel.
The CFPB found that rural Appalachians have higher cost of credit, higher mortgage application denial rates and more reliance on loans for manufactured housing that are often of a higher cost.
The fintech that promised to smooth out borrowers’ home transitions with cash offers and “sell before you buy” financing has shut shop, citing market conditions and difficulty raising capital.
The mortgage industry is facing challenging times, thanks, in part, to the Fed’s constant rate hikes. Fighting inflation is a laudable goal but lenders wonder how badly the housing-finance system might be damaged.