The increased regulatory burden created by the Dodd-Frank Act restricted bank residential lending in 2017, especially when it came to non-qualified mortgages, according to an American Bankers Association survey.
Although the Consumer Financial Protection Bureau is loosening certain mortgage rules, others such as restrictions on loan officer compensation and state-level regulation will likely persist, according to industry attorneys.
Mick Mulvaney’s recent comments about the CFPB Qualified Mortgage rule have triggered a debate over whether regulators should take into account more than one underwriting model.
Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.
Acting CFPB Director Mick Mulvaney suggested that digital mortgages should be held to different standards than ones originated by credit unions and banks.
After originating more than $1 billion in loans outside the ability-to-repay rule's Qualified Mortgage safe harbor last year, Angel Oak is planning to originate at least twice that in 2018.
Nationstar Mortgage may face a Consumer Financial Protection Bureau enforcement action over alleged violations of the Real Estate Settlement Act and other regulations, the Mr. Cooper parent company said.
The union representing employees at the CFPB is already fighting acting Director Mick Mulvaney's efforts to restructure the agency, and readying for a potentially larger conflict as rumors of layoffs swirl.
From falling originations to market share shifts for nonbanks and government loans, here's a look at eight key findings from the just-released 2017 Home Mortgage Disclosure Act data.
