As a more centrist Consumer Financial Protection bureau (cfpb) issued a modest annual fair lending report, Democratic lawmakers continue to press a far more aggressive fair lending agenda, as.
Today, the CFPB released their Priorities for the next two years. Of particular interest to Mortgage Lenders is the excerpt below. Please close attention to the focus of "Fair Lending". Fair Lending is heating up folks, so now that TRID is mellowing out, it’s time to focus on this important issue.
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The CFPB has issued an annual Fair Lending report since the Bureau launched the Office of Fair Lending and Equal Opportunity, totaling four since 2012. This year’s 2015 summary, published in late April 2016, provides the industry an update on the Bureau’s observations and supervisory activity and enforcement actions as well as their focus going.
Fair Lending-In an email to bureau employees, Mulvaney announced that the Office of Fair Lending and Equal Opportunity will move from the CFPB’s Supervision, Enforcement and Fair Lending division to the Office of the Director. There, the group will focus on “advocacy, coordination and education,” according to the email, and will no.
If you aren’t yet analyzing your lending data for Redlining risk, now is the time to start. It has been a priority throughout 2016, and that will continue into 2017. [free white paper: redlining risk analysis] 2. Servicing for Mortgages and Student Loans. The CFPB will be focusing on servicing for mortgages and student loans.
Zeisel said several factors are driving the heightened focus from bankers over fair lending, including uncertainty about how CFPB. mortgages until they returned to work. They also brought the first.
Attention lenders: The CFPB is now focusing more on fair lending in mortgages Is the FHA about to raise the HECM lending limit? Did Mick Mulvaney just drastically change how the cfpb enforces fair.
Wells Sees 60-70% Loss Severity in Option-ARMs the other two sectors declined marginally. In Option ARMs, CW’s mean reversion continues; CW CDRs are holding steady a few points north of the rest of the sector. late stage delinquencies showed surprising strength in Subprime, while the other sectors showed continued, albeit slow, improvement. The 90+ population fell a point
· Fair Lending Report of the Consumer Financial Protection Bureau, April 2017 Message From Richard Cordray , Director of the CFPB For over five years, the Consumer Financial Protection Bureau has pursued its statutory mandate to provide "oversight and enforcement" of the fair lending laws under our jurisdiction.
FHA REO inventory up 47% from one year ago Joining me on the call today is Bob Schottenstein, our CEO and president; tom mason, EVP; Derek Klutch, President of our Mortgage Company. record of January of ’18, up 24% from a year ago. So that.