Enforcement

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”

Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for loans submitted for Federal Housing Administration insurance in 2010.

The agency said lenders should avoid reporting delinquent payments to credit bureaus for consumers who have sought payment relief due to the pandemic.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

With increased economic distress because of the coronavirus, lenders are likely to see an increase of borrowers looking for a mortgage rescission, arguing they are eligible for an extended filing time frame.

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

The pursuit of a dream home became a nightmare for apartment hunters who were scammed out of tens of thousands of dollars by an agent pushing a phony affordable housing scheme in Brooklyn, N.Y., authorities said.

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

Mary Doenlen couldn't tell a judge why she stole over $130,000 from her employer. She wasn't in financial straits. She has a daughter, a husband and a sickly father to tend to.

The agency has named Thomas G. Ward as the bureau's assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.