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Many lenders may not have been ready for the CFPB's new mortgage disclosure rule if it took effect on Aug. 1 as planned. Now a slip-up by the agency itself has given lenders a two-month reprieve.
June 22
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The U.S. Attorney's Office for the Eastern District of California has indicted Robert Farrace of Modesto, Calif., on charges of wire fraud in connection to a short-sale scheme.
June 19 -
Black and Hispanic home-loan applicants in New York are more than twice as likely to be denied as white applicants, a study by StreetEasy found.
June 19 -
Pressure from community groups forced Valley National Bancorp to strengthen its commitment to lend in low- and moderate-income neighborhoods in order to win approval for a Florida acquisition. Other banks, too, are now placing CRA efforts front-and-center as they aim to sell deals to the public and their regulators.
June 19
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The Consumer Services division of Washington state's Department of Financial Institutions has accused Quicken Loans with sending false claims in direct mail advertising to military members.
June 19 -
A U.S. District Judge sentenced a New Jersey man for his role in a $15 million mortgage fraud scam.
June 19 -
FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.
June 18 -
A technical error made by the Consumer Financial Protection Bureau has become a saving grace for lenders who had pushed, begged and pleaded for more time to comply with a new mortgage disclosure rule.
June 18
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It turns out the Consumer Financial Protection Bureau's failure to file a two-page form to Congress on time was the unspecified "administrative error" that delayed the effective date for new mortgage disclosure rules.
June 18
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WASHINGTON After months of declining industry and congressional pleas to delay an impending rule combining two mortgage disclosure regimes, the Consumer Financial Protection Bureau on Wednesday announced a two-month delay due to an "administrative error."
June 17
