Two Harbors Investment is buying RoundPoint Servicing from Freedom Mortgage, paying the tangible net book value of RoundPoint plus a premium of $10.5 million.

A recent paper published by the Federal Reserve in June found including purchases of low- to moderate-income loans in a bank’s Community Reinvestment Act lending test benefited banks’ rating but didn’t increase the flow of mortgage credit to low- to moderate-income communities.

A federal appeals court recently held that mortgage servicers must comply with both the Truth in Lending Act and the Fair Debt Collection Practices Act, rejecting an argument that one cancelled out the other.

Consumer gripes filed with the CFPB increased 15.5% from the first to the second quarter, according to a new analysis. Complaints about credit reports accounted for more than three-fourths of the total. (Includes two data charts.)

The CFPB and DOJ filed a complaint and proposed consent order against Trident Mortgage for allegedly discouraging consumers in Philadelphia’s majority-minority neighborhoods from applying for credit.

A Federal Reserve study evaluated if giving Community Reinvestment Act credit for purchasing loans benefits LMI credit availability, finding that it creates more loan purchases but not more originations.

A recent Supreme Court decision invoking the “major question doctrine” to limit a federal regulator’s authority to interpret statute could have a major impact on other federal agencies, including the CFPB.

An executive at tech vendor Stavvy said the CFPB, instead of acknowledging the work done by servicers during the pandemic, was focusing on one or two servicers whose response time may have lagged.

An appeals court has ruled that monthly statements attempting to induce payment on a debt are covered by both the Truth in Lending Act and Fair Debt Collection Practices Act.

While changes to medical debt reporting should cut the number of medical collections tradelines on consumer reports by two-thirds, most of the dollar amount of medical debt is likely to persist, the CFPB found.