Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman is racing ahead to publish Basel III for commentary before the end of the first quarter. She’s previously highlighted that changes will be introduced to the framework to encourage bank participation in mortgages. Expert Quote: “I’ve said for a number of months now that we […]
Fed’s Bowman says Basel proposal still on track for end of Q1 Read More »
A federal judge has defeated a trade group’s bid to stop tighter lending rules for clean energy loans, overriding protests that the move would hike costs and diminish demand. Processing Content The ruling on summary judgment this week by U.S. District Judge Tom Barber, in favor of the government, means administrators with the Property Assessed
Trade group loses bid to block PACE rules Read More »
Could your artificial intelligence-powered voice agents break the law in talking to consumers? Processing Content Experts behind agentic AI technology in the mortgage space suggest it’s already happening. The digital voice assistants offered by leading lenders, which help hundreds of thousands of customers today weigh home buying options and facilitate monthly mortgage payments, could also
AI voice agents stir TCPA compliance debate Read More »
Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman said the Fed is exploring ways to reduce banks’ regulatory costs associated with mortgage lending and servicing. Expert Quote: “These potential changes would address legitimate concerns about mortgage market structure while maintaining appropriate prudential safeguards.” — Fed Vice Chair for Supervision Michelle Bowman. Forward Look:
Fed’s Bowman wants to boost banks’ share of mortgage market Read More »
In a new lawsuit that has attracted AARP, a consumer advocacy group is suing home equity investment platform Unison, the latest in a series of similar cases HEI firms have seen lodged against them. Processing Content The National Association of Consumer Advocates filed the lawsuit in District of Columbia Superior Court. Alongside its own attorneys,
AARP joins suit against Unison HEI model Read More »
The federal government should step in to prevent an emerging patchwork of state regulations from stifling the benefits of applying the tools of generative artificial intelligence to the mortgage market, writes Leah Price, of the Tinman AI Platform.Adobe Stock The federal government in December took the first steps toward steamrolling any potential bottlenecks that states
AI will ease the home-price crisis, if state lawmakers let it Read More »
Processing Content What’s at stake: Colony Ridge will pay $48 million to improve infrastructure at its developments near Houston particularly flood control measures. No money is earmarked for harmed borrowers, however, who have a high bar to get relief under a default avoidance plan. Key insight: In a surprise move, the DOJ is requiring that
Developer Colony Ridge to pay $68M in DOJ, Texas settlement Read More »
Key insight: The CFPB’s leadership cited ongoing litigation as the reason for not cooperating with the Government Accountability Office. Supporting data: The GAO reiterated what was found in court documents, finding that the CFPB had planned to fire 88% of the staff. Forward look: A federal appeals court will hear oral arguments in late February
CFPB blocks GAO investigators in layoff report Read More »
A Maryland-based title and settlement services company has settled claims that it paid fees to real estate agents and brokers in exchange for customer referrals through joint venture arrangements. Processing Content KVS Title created multiple joint venture companies with real estate agents and brokers, including Alliance Title Services, Clear Title Solutions, Eversure Title, Realty Settlement
Title company settles RESPA JV referral claims for $1M Read More »
The Federal Housing Finance Agency is not making changes to its proposed repeal of the Biden Administration’s Fair Lending, Fair Housing and Equitable Housing Finance Plans regulation it first published for comment in July. Processing Content The rule is also identified as part 1293 and the current version was put into place in April 2024.
FHFA goes ahead with repeal of Biden fair lending rule Read More »