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CFPB

CFPB ends multiple lender consent orders, opens few new cases

CFPB, HWmember, LendingLife, Mortgage, Planet Home Lending, Regulatory, Regulatory Compliance /

Under the Trump administration, the Consumer Financial Protection Bureau (CFPB) has been winding down enforcement actions against lenders and servicers while opening only two new cases. On Sept. 18, the Bureau terminated consent orders against Washington Federal Bank, Planet Home Lending, Apple Inc. and U.S. Bank National Association. The cases spanned mortgage rules, credit cards […]

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Legal experts say RESPA suit against Zillow is ‘going nowhere fast’

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Zillow’s legal workload became even heavier on Friday when homebuyer Alucard Taylor filed a class action lawsuit against the real estate behemoth over its Premier Agent and Flex programs.  The lawsuit, which was filed in U.S. District Court in Seattle, alleges both the Washington Consumer Protection Act and the Real Estate Settlement Procedures Act (RESPA)

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CFPB cleared to fire 90% of staff by appeals court decision

CFPB, HWmember, Mortgage, Regulatory, Trump administration /

The CFPB can go ahead with plans — announced in April — to fire 90% of its staff, a federal appeals court panel ruled on Friday. The U.S. Court of Appeals for the D.C. Circuit found that “the district court lacked jurisdiction to consider the claims predicated on loss of employment, which must proceed through

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The CFPB’s budget might be shrinking, but does that even matter?

CFPB, Compliance, Dodd-Frank, Federal Reserve, Housing Market, HWmember, Legislation, Regulatory, Trump administration /

The Trump administration’s “Big Beautiful Bill” may contain many initiatives lauded by the housing industry, but if you’re a federal regulator — namely the Consumer Financial Protection Bureau (CFPB) — you might have a different take.  The multitrillion-dollar bill, which was passed by the U.S. Senate on Tuesday but still awaits approval from the House

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NAMB issues support for CHLA white paper on LO compensation

CFPB, Community Home Lenders of America, HWmember, Loan Officer, Mortgage, NAMB, Regulatory, Regulatory Compliance /

The National Association of Mortgage Brokers (NAMB) on Monday issued a letter of support for the Community Home Lenders of America (CHLA)’s white paper on LO compensation reform. CHLA‘s white paper, released last week, urged Congress to roll back the loan originator compensation rule to focus on its original purpose — a ban on yield

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CFPB cuts short monitoring of BofA mortgage practices

Bank of America, CFPB, HWmember, Mortgage, Regulatory, Regulatory Compliance /

The Consumer Financial Protection Bureau (CFPB) cut short a five-year agreement with Bank of America over the bank’s alleged submissions of false mortgage data. The agreement was supposed to be in place through at least November 2028. In a filing made public Monday, the CFPB said the bank “fulfilled the obligations” of the agreement signed in November 2023,

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Judge blocks CFPB bid to undo Townstone redlining settlement

CFPB, Donald Trump, HWmember, Legal, Mortgage, Redlining, Regulatory Compliance /

A federal judge on Thursday blocked an attempt by the Consumer Financial Protection Bureau (CFPB) to reverse a $105,000 settlement with Townstone Financial, a Chicago-based mortgage broker accused of discouraging Black applicants. U.S. District Judge Franklin Valderrama ruled that allowing the CFPB to unwind the deal, finalized last year, “would erode public confidence in the

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Federal Reserve watchdog investigates efforts to dismantle CFPB

CFPB, Elizabeth Warren, Federal Reserve, Housing Market, HWmember, Massachusetts, New Jersey, Politics, Regulatory, Senate /

As Trump administration officials press ahead with their efforts to dismantle and defund the Consumer Financial Protection Bureau (CFPB), the Federal Reserve Office of the Inspector General (OIG) is reportedly opening an investigation into moves to fire the vast majority of CFPB and attempted cancellations of associated federal contracts. According to reporting by CNBC, the

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Why more servicers are implementing technology integrations through APIs 

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With a variety of change impacting the mortgage industry, including borrow demands, digital transformation, and regulatory requirements, mortgage servicers are re-evaluating the systems they use and how they interact with each other. With this in mind, servicers must leverage technology and platforms that offer seamless, real-time integration that allows for operational efficiency, data security, and

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CFPB enforcement head resigns, citing ‘no intention to enforce the law’

CFPB, Donald Trump, Housing Market, HWmember, Regulatory, Regulatory Compliance, Trump administration /

Cara Petersen, who has served as the principal deputy enforcement director at the Consumer Financial Protection Bureau (CFPB) since late 2017, resigned this week with a letter that’s highly critical of the enforcement posture at the bureau under the new administration of President Donald Trump. Petersen’s resignation letter was obtained and initially reported on by

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