Consumer Financial Protection Bureau Releases Assessment of TRID Mortgage Loan Disclosure Rule

Research examining changes to terms and cost of a mortgage loan during the origination process also released

Research examining changes to terms and cost of a mortgage loan during the origination process also released

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-releases-assessment-trid-mortgage-loan-disclosure-rule/

Consumer Financial Protection Bureau Requests Information on the Impact of the CARD Act Regulations on Small Entities and the Consumer Credit Card Market

The Consumer Financial Protection Bureau issued a request for information to examine the impact of the rules that implement the Credit Card Accountability Responsibility and Disclosure Act of 2009.

The Consumer Financial Protection Bureau issued a request for information to examine the impact of the rules that implement the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-rfi-card-act-regulations-small-entities-and-consumer-credit-card-market/

Consumer Financial Protection Bureau Proposes New Category of Qualified Mortgages to Encourage Innovation and Access to Affordable Mortgage Credit

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-new-category-qualified-mortgages-encourage-access-affordable-mortgage-credit/

Consumer Financial Protection Bureau Settles with Mortgage Companies to Address Deceptive Loan Advertisements Sent to Servicemembers and Veterans

Today, the Consumer Financial Protection Bureau issued consent orders against Sovereign Lending Group, Inc. and Prime Choice Funding, Inc.

Today, the Consumer Financial Protection Bureau issued consent orders against Sovereign Lending Group, Inc. and Prime Choice Funding, Inc.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-settles-mortgage-companies-address-deceptive-loan-advertisements-servicemembers/

Consumer Financial Protection Bureau Issues Proposed Rule on Escrow Exemptions for Certain High-Priced Mortgage Loans

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish es…

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-proposed-rule-escrow-exemptions-high-priced-mortgage-loans/

CFPB Issues Interpretive Rule on Method for Determining Underserved Areas

The Consumer Financial Protection Bureau issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” fo…

The Consumer Financial Protection Bureau issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-interpretive-rule-method-determining-underserved-areas/

Consumer Financial Protection Bureau Takes Steps to Address GSE Patch

The Consumer Financial Protection Bureau issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch (GSE Patch).

The Consumer Financial Protection Bureau issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch (GSE Patch).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-steps-address-gse-patch/

CFPB Takes Steps to Facilitate LIBOR Transition

The Consumer Financial Protection Bureau took steps to facilitate the transition away from LIBOR for consumers and regulated entities.

The Consumer Financial Protection Bureau took steps to facilitate the transition away from LIBOR for consumers and regulated entities.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-facilitates-libor-transition/

CFPB Paves Way for Consumers Facing Financial Emergencies to Obtain Access to Mortgage Credit More Quickly

The Consumer Financial Protection Bureau (Bureau) took steps to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic.

The Consumer Financial Protection Bureau (Bureau) took steps to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-paves-way-consumers-facing-financial-emergencies-access-mortgage-credit-quickly/

Consumer Financial Protection Bureau Settles with Short-Term Lender for Unfair and Deceptive Acts and Practices

The Consumer Financial Protection Bureau announced a settlement with Cottonwood Financial, Ltd., which does business under the name Cash Store, on April 1, 2020.

The Consumer Financial Protection Bureau announced a settlement with Cottonwood Financial, Ltd., which does business under the name Cash Store, on April 1, 2020.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-settles-short-term-lender-unfair-deceptive-acts-and-practices/