Consumer lending

The agency’s acting director uses a reply letter to the senator not to answer her questions but to underscore that Congress lacks the ability to compel answers to such questions.

Mortgage credit availability tightened during March to its lowest level in over a year, adding another headwind to a market challenged by rising interest rates and a shortage of homes for sale.

Late-payment rates at banks declined in nine out of the 11 consumer loan categories tracked by the American Bankers Association, including credit cards, auto loans and personal loans.

Carrington Mortgage Services' decision to offer subprime mortgage loans was a natural progression from its decision four years ago to concentrate on borrowers with credit scores under 640.

The latest salvo by the acting director of the Consumer Financial Protection Bureau — proposing in the agency's semiannual report that all CFPB rules be subject to congressional approval — left many observers stumped if not outraged.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney proposed dramatic curbs to his agency's power in a report Monday, including a recommendation that all CFPB rules must be approved by Congress.

A majority of midsize and large banks complain that red tape is mounting and that they are passing on higher regulatory costs to customers and have less flexibility in designing products, according to a new survey by the RMA.

In the joint report with the Federal Trade Commission on debt collection practices, the CFPB said it had initiated four enforcement actions last year, had resolved one case and has five others pending.

Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.

Increased numbers of homeowners in Orlando — and most of Florida — fell behind on mortgage payments late last year, bucking national trends.

The eventual pick will likely encounter heavy scrutiny from senators and, if confirmed, would take the helm of an agency still defined by turmoil nearly seven years after its creation.

Foreign inflows are distorting Canada's already constrained housing market and aren't the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.

Commercial and multifamily fourth-quarter mortgage delinquency rates improved for most investor types compared to one year prior as the U.S. economy continued its recovery.

Incenter Mortgage Advisors is putting up for bid a $712.8 million package of government-sponsored enterprise and Ginnie Mae mortgage servicing rights concentrated in the Southeast.

The interim head of the Consumer Financial Protection Bureau said the agency may allow prudential regulators to take the lead on more supervisory matters to cut down on duplication.

“Why we think we know better or how to protect consumers in your state surprises me,” acting CFPB Director Mick Mulvaney told a group of state attorneys general. “I don’t think we’ll being do much of that anymore.”

In an interview during his first day on the job, Anthony Noto also spoke about improving the firm's culture and the prospects for an IPO.

The war of words between acting Consumer Financial Protection Bureau Director Mick Mulvaney and Sen. Elizabeth Warren, D-Mass., the agency's architect, is escalating.

Delinquencies from Hurricanes Harvey and Irma are starting to subside, even as pre-storm foreclosures that were put on hold resume.

William Parsley was most recently PNC's chief investment officer and treasurer and had previously served as head of consumer lending.