The CFPB announced two separate notices of proposed rulemaking to address the coming expiration of TILA qualified mortgage (QM) status for the ‘GSE Patch.
The CFPB announced two separate notices of proposed rulemaking to address the coming expiration of TILA qualified mortgage (QM) status for the ‘GSE Patch.
The CFPB recently published two Factsheets outlining lender obligations under the Equal Credit Opportunity Act (ECOA) Valuations Rule.
On March 27th, the CFPB issued a public request for information (RFI) to obtain input on areas where it should focus its research and analysis. The comment period ends on June 1, 2020.
Texas Amends Conditional Approval and Conditional Pre-Qualification Letter The Texas Finance Commission has amended the loan status forms to be provided as written confirmation of conditional qualification (“Conditional Pre-Qualification Letter”) and of loan application approval on the basis of credit worthiness (“Conditional Approval Letter”), effective May 1, 2020. These loan status forms are not required. […]
On Thursday, April 16, the CFPB announced an amendment to Regulation C raising the loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act (HMDA).
The Consumer Financial Protection Bureau (“CFPB”) issued a policy statement outlining the responsibility of credit reporting companies and furnishers in light of the recently enacted Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CFPB indicated it will take a “flexible supervisory and enforcement approach during this pandemic regarding compliance with the Fair Credit […]