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Consumer Protection

Illinois creates regulatory framework for home equity investments

Consumer Protection, Home Equity, HWmember, Illinois, Mortgage, Regulatory Compliance, Reverse /

Regulators in Illinois have approved what a group of home equity investment (HEI) providers calls the most comprehensive state regulatory framework to date for shared equity products, a fast-growing alternative to traditional home equity loans and reverse mortgages. The rule was adopted under the Illinois Department of Financial and Professional Regulation (IDFPR)’s mortgage licensing regulations. […]

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CEA analysis weighs CFPB’s economic impact

CFPB, Compliance, Consumer Protection, Dodd-Frank, Financial crisis, HWmember, Legal, Mortgage, Mortgage Rates, Politics, Regulatory, Regulatory Compliance /

A new report from the Council of Economic Advisers (CEA) estimates that the Consumer Financial Protection Bureau (CFPB) has imposed $237 billion to $369 billion in cumulative costs on U.S. consumers since its creation in 2011, largely through higher borrowing costs. For 2024 alone, the report estimates $24 billion to $38 billion in costs. The

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Mortgage originators brace for rising costs as ban on abusive trigger leads nears

Artificial Intelligence, Consumer Protection, Cotality, credit report, HWmember, Lead Generation, Legislation, LendingLife, Mortgage, Origination, Regulatory Compliance /

A ban on abusive trigger leads that’s set to take effect in early March is already driving up overall costs to acquire leads and putting pressure on mortgage originators’ business models, industry experts told HousingWire. Sources say this short-term shift is part of a broader set of trends — including heightened competition for first-party data

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Does the trigger leads bill opt-in provision wave goodbye to competition?

Consumer Protection, HWmember, IMBs, Lead Generation, Mortgage, Mortgage Broker, Regulatory, Retail Lending /

A long-awaited crackdown on trigger leads is on its way to President Donald Trump’s desk, but not everyone in the mortgage world is celebrating. Nestled in the bill is a provision that’s leading professionals to raise doubts about whether the measure is a consumer safeguard or a competition killer.  “The act will require consumers to

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