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The Consumer Financial Protection Bureau and other federal banking agencies should do more to protect consumers with limited English proficiency, a report from Americans for Financial Reform says.
May 27 -
JPMorgan Chase has received credit for $3.89 billion of consumer relief, plus it says it has provided an additional $113 million, putting the bank over the top on its obligation.
May 27 -
Banks have rushed to the exits when it comes to Fannie Mae and Freddie Mac debt securities. Federal liquidity rules seem to be prompting big banks to do so, but why small banks are unloading the bonds, too, is more of a puzzler.
May 27
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The CFPB alleges that David Eghbali, a loan officer for a Wells Fargo branch in Beverly Hills, Calif., developed a scheme to manipulate escrow fees in order to close more mortgages and boost his bonus. Eghbali says he was forced to sign a settlement because he couldn't afford to fight the CFPB in court.
May 26 -
The Inspector General for the Department of Housing and Urban Development is not backing down on his concerns about premium pricing associated with the down payment assistance programs by the Federal Housing Administration.
May 26
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The bank's new low-down-payment mortgage, an alternative to FHA loans, dispenses with the complex qualification requirements that have hampered recent efforts with low down payments by Fannie and Freddie.
May 26
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Recent legislative proposals to make piecemeal changes to the government-sponsored enterprises could set broader GSE reform on the wrong path.
May 26
Community Home Lenders of America -
New research findings challenge common assumptions about borrower behavior, illustrating how trended data something mortgage lenders will soon be required to collect could be a game-changer.
May 26
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The Department of Housing and Urban Development is telling lenders that down payment assistance programs still qualify for FHA backing despite concerns raised last year by HUDs inspector general.
May 25
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Wells Fargo & Co. agreed to pay a $70 million penalty in ending the banks five-year fight to settle legal claims over foreclosure missteps after the 2008 credit crisis.
May 25
