The announcement comes as the bureau's director regularly voices doubts about whether algorithmic models can be entirely nondiscriminatory and warns companies of potential enforcement from violations.

The suggested order would require Freedom Mortgage to pay $3.95 million to settle allegations that it botched its reporting of customer data to the watchdog.

Analysts foresee less regulation and a weighty tax cut decision, but aren't confident that the former president will end GSE conservatorship.

The announcement comes after weeks of criticism from the bureau's director over fees including title insurance and credit scores.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

The lender lost a battle to toss the lawsuit, but convinced a judge to compel the regulator to produce data on its competitors.

The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.

The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.

Rep. Andy Barr, R-Ky., and Sen. Thom Tillis, R-N.C., told the Consumer Financial Protection Bureau that pursuing a rulemaking on forced arbitration, as laid out by consumer advocates' rulemaking petition, would be an "affront to Congress."

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.