Rocket Homes off the hook as Trump's CFPB drops lawsuits
Dec. 23 RESPA complaint that accused Rocket Homes of favoring real estate agents who steered clients to Rocket Mortgage is dismissed 'without prejudice' by the CFPB's new leadership
by Matt Carter Feb 27
NAR, Mortgage Bankers Association back CFPB nominee
The National Association of Realtors and several other housing groups urged Congress to confirm Consumer Financial Protection Bureau nominee Jonathan McKernan
by Marian McPherson Feb 25
Trump nominates Jonathan McKernan as director of CFPB
McKernan's prior roles include senior financial policy advisor for Sen. Bob Corker and posts with the Senate Committee on Banking, Housing, and Urban Affairs and the US Treasury
by Richelle Hammiel Feb 12
CFPB is latest target of Trump's downsizing government campaign
Congressional Democrats vow to fight moves to 'unlawfully delete this popular consumer watchdog that enjoys the broad bipartisan support of 4 out of 5 Americans'
by Matt Carter Feb 10
Rules on closing costs, PACE loans on CFPB chopping block
In his 1st act as interim Consumer Financial Protection Bureau director, Scott Bessent froze action on all rules and litigation. Here's what that potentially means for the mortgage industry
by Marian McPherson Feb 4
Treasury Secretary Scott Bessent to temporarily lead CFPB
President Trump fired former Consumer Financial Protection Bureau Director Rohit Chopra on Saturday. Treasury Secretary Scott Bessent will take over leadership duties until Trump nominates a new director.
by Marian McPherson Feb 3
Manufactured homebuilder's lender draws regulatory scrutiny
Vanderbilt Mortgage, which also does business as Silverton Mortgage, is accused by CFPB of approving loans that it knew, or should have known, borrowers couldn't repay
by Matt Carter Jan 6
Rocket accused of using 'kickback scheme' to attract more borrowers
The Consumer Financial Protection Bureau claims Rocket gave real estate agents incentives to steer consumers away from other companies. Rocket calls the allegations a 'lie' and political ploy
by Jim Dalrymple II Dec 24
CFPB tightening underwriting for PACE energy improvement loans
PACE lenders object to rule requiring them to evaluate borrowers' ability to repay and provide more comprehensive disclosures so homeowners can comparison shop for other financing
by Matt Carter Dec 17
Fairway blasts federal regulators in $10M redlining settlement
Nation's third biggest lender casts itself as a victim of politics, noting Consumer Financial Protection Bureau launched its investigation the day after Biden Administration took office
by Matt Carter Oct 16
Mortgage lenders gearing up to use more inclusive credit scoring
Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck
by Matt Carter Jul 29
Zillow now showing buyers how rate changes affect their options
Powered by mortgage rates from Zillow Home Loans, BuyAbility tool could help listing portal's lending affiliate get a head start on other lenders that it competes with for homebuyers
by Matt Carter May 14
Credit repair companies settle 'hot swapping' allegations for $2.7B
Lexington Law and CreditRepair.com parent Progrexion filed for bankruptcy protection in June after court ruled collection of upfront fees violated Telemarketing Sales Rule
by Matt Carter Aug 29
Freedom Mortgage to pay $1.75M to settle agent kickback scheme
Regulators claim marketing agreements with more than 40 real estate brokerages including Realty Connect USA were a conduit for kickbacks for 1,000+ mortgage referrals
by Matt Carter Aug 18
Stricter rules eyed for controversial PACE energy improvement loans
Property Assessed Clean Energy (PACE) loans can burden homeowners with higher property tax bills that heighten the risk they'll get behind on their mortgages, federal regulators say
by Matt Carter May 2