The White House has sent the nomination of Brian Johnson to serve as director of the Consumer Financial Protection Bureau (CFPB) to the Senate, according to a notice filed on Wednesday. The agency has been under the leadership of acting director Russell Vought for the past 16 months. During his tenure, Vought — who also […]
White House taps Brian Johnson to lead CFPB Read More »
The Consumer Financial Protection Bureau (CFPB) could finalize changes to its Regulation X servicing rules while creating a regulatory pathway for streamlined refinances through the government-sponsored enterprises (GSEs) by the end of this year, mortgage industry sources told HousingWire. Meanwhile, prospects for changes to the loan originator compensation rule (LO Comp Rule) — particularly revisions
CFPB prioritizes Reg X, GSE streamline refis as LO Comp hopes fade Read More »
A federal judge in Texas dismissed with prejudice a high-profile discrimination lawsuit against Colony Ridge Development while sharply criticizing a proposed settlement agreement that would have directed millions of dollars toward infrastructure and immigration enforcement rather than compensating alleged victims. In an order filed on April 28 in the U.S. District Court for the Southern
Texas judge dismisses Colony Ridge discrimination lawsuit Read More »
President Donald Trump’s executive order targeting mortgages addresses several concerns raised by banks and nonbanks, which have largely welcomed it as a road map for regulatory change. But it’s also receiving pushback from consumer advocates. Friday’s order on “promoting access to mortgage credit” aims to boost lending by community banks (with less than $30 billion
Trump’s mortgage order sets stage for regulatory shift, draws consumer backlash Read More »
The Consumer Financial Protection Bureau (CFPB) is proposing changes to rules under the Equal Credit Opportunity Act (ECOA) to clarify lenders’ responsibilities on issues including disparate impact, discouragement of applicants and special purpose credit programs (SPCPs) that industry leaders say could hurt women’s ability to get a mortgage loan in their own name. The comment
CFPB’s ECOA proposal raises alarms over women’s ability to get a mortgage Read More »
U.S. Senate Democrats sent a letter to Consumer Financial Protection Bureau (CFPB) acting director Russell Vought raising concerns that any “efforts to shutter the agency” could disrupt the publication of average prime offer rates (APOR), a key benchmark in the mortgage market. The CFPB manually calculates and publishes detailed APOR tables on a weekly basis.
Senate Democrats warn CFPB shutdown could disrupt prime interest rates Read More »