WASHINGTON, D.C. - Six federal regulatory agencies today issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling. In particular, the rule will implement quality control standards for
WASHINGTON, D.C. - The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive source of publicly available information on mortgage market
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today proposed new rules to make it easier for homeowners to get help when they are struggling to pay their mortgage. The proposal, if finalized, would require mortgage servicers to focus on helping borrowers, not foreclosing, when a homeowner asks for help. The proposed changes would
WASHINGTON, D.C. - La Oficina para la Protección Financiera del Consumidor (CFPB, por sus siglas en inglés) ha propuesto hoy nuevas normas para facilitarles a los propietarios de viviendas el recibir asistencia cuando tengan dificultades para pagar sus hipotecas. De finalizarse, la propuesta obligaría a los administradores hipotecarios a enfocarse en ayudar a los prestatarios
WASHINGTON, D.C. - The Consumer Financial Protection Bureau (CFPB) today took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying $20 million in penalties in addition to paying redress to approximately 35,000 harmed consumers, including about 1,000 who had their cars repossessed. Specifically, the
