The Government Agency That Should Fine Itself

Mortgages

The Government Agency That Should Fine Itself

The Government Agency That Should Fine Itself

This just in from the “It Couldn’t Possibly Get Any Worse” Department: The first wave of checks from the bungled foreclosure abuse settlement landed in mailboxes around the country this week, but when people tried to cash them, a number of them bounced. I don’t know about you, but if someone who worked for me… Read More

CFPB Reminds Lenders of Consumers’ Rights in Mortgage Transfers

Mortgages

CFPB Reminds Lenders of Consumers’ Rights in Mortgage Transfers

CFPB Reminds Lenders of Consumers’ Rights in Mortgage Transfers

The federal watchdog agency tasked with protecting consumers from unfair or predatory financial practices by many types of financial institutions recently issued new guidance for some companies related to loan transfer deals. The Consumer Financial Protection Bureau’s latest bit of guidance addressed the legal obligations mortgage lenders have with regard to protecting consumers as they… Read More

Senator Pushes for Simpler, Consistent Home Loan Rules

Mortgages

Senator Pushes for Simpler, Consistent Home Loan Rules

Senator Pushes for Simpler, Consistent Home Loan Rules

Federal regulators are now significantly overhauling rules to which mortgage originators and brokers must comply when granting this type of loan to consumers so that they are more affordable, but one top lawmaker says there needs to be greater clarity and uniformity in the process. Sen. Bob Corker, a Republican from Tennessee, recently wrote a… Read More

CFPB Issues Final Rules on Mortgage Servicers

Mortgages

CFPB Issues Final Rules on Mortgage Servicers

CFPB Issues Final Rules on Mortgage Servicers

The Consumer Financial Protection Bureau announced Thursday that it has issued new consumer protection rules targeted at one of the industries for which it receives a large number of complaints — mortgage servicers. Mortgage servicers are essentially the face of your mortgage. Their role in the lending process is to collect payments from borrowers on… Read More

This Week in Credit News: New Mortgage Rules

Personal Finance

This Week in Credit News: New Mortgage Rules

This Week in Credit News: New Mortgage Rules

The biggest news this week is all about the Consumer Financial Protection Bureau’s new regulations of the mortgage industry. Mixed Reviews on CFPB’s New Mortgage Rules The CFPB announced a slew of new mortgage regulations Thursday that are going to have a major impact on the housing market. Whether they are for the betterment of… Read More

Consumer Group Asks CFPB for End to Some Mortgage Rules

Mortgages

Consumer Group Asks CFPB for End to Some Mortgage Rules

Consumer Group Asks CFPB for End to Some Mortgage Rules

The federal watchdog agency in charge of protecting consumers’ finances recently proposed a number of rules for the ways in which mortgage lenders and servicers deal with borrowers, but one group thinks these regulatory changes could actually be harmful for Americans. The consumer advocacy group Americans for Financial Reform, made up of a number of… Read More

Everything You Need to Know About the Newest CFPB Proposal

Personal Finance

Everything You Need to Know About the Newest CFPB Proposal

Everything You Need to Know About the Newest CFPB Proposal

The federal agency in charge of helping consumers avoid predatory or misleading lending practices is now proposing a way to help borrowers better understand the full cost of borrowing to buy a house. The Consumer Financial Protection Bureau recently proposed a new type of disclosure form for mortgages that will give borrowers a clearer understanding… Read More

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