Organization Root Tag

The complaint unsealed Monday alleges three individuals and several companies they owned or controlled engaged in False Claims Act violations involving short sales of properties that had Federal Housing Administration-insured mortgages.

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.

Public agencies led by the Federal Reserve often stretch the definition of “necessary and proper” to the breaking point when seeking to fulfill public mandates, columnist Chris Whalen argues.

While the agreement with China Oceanwide still remains in place, there was no formal extension of the Dec. 31 deadline.

With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.

Mortgage rates rose a basis point this week, ending the year near record lows, according to Freddie Mac.

A gauge of pending home sales fell for the third consecutive month in November, suggesting higher prices and limited inventory are slowing momentum in the housing market despite record-low borrowing costs.

The agency's request for input will shape how mortgages underwritten by Fannie Mae and Freddie Mac handle appraisals and curb risk.

The Consumer Financial Protection Bureau is headed for more disruption in the new year with a Democratic administration likely to reverse several GOP-backed policies. More aggressive relief for mortgage borrowers, a rollback of Trump-era rulemakings and yet another realignment of CFPB offices will all be on the table.

A measure of home prices in 20 U.S. cities rose in October by the most since 2014 as ultra-low mortgage rates and increased buyer appetite for more space depleted housing inventory.