Consumer Financial Protection Bureau Supervision Finds Mortgage Servicers’ Ongoing Technology Failures and Process Breakdowns Trigger Rule Violations

Last week, the Consumer Financial Protection Bureau (CFPB) released a special edition supervision report focused on mortgage servicers. The report indicates that some mortgage servicers are putting themselves in violation of CFPB’s new servicing rules…

Current Seniors Positioned to Have Significant Impact on Housing Market

Freddie Mac released consumer research today indicating that seniors (age 55+) control almost two-thirds, or $8 trillion of the nation’s total home equity. As a result of this, the decisions that they make in the…

TRID Having Intended Effect

News this week is indicating that TRID, also known as “Know Before You Owe” is actually having the effect intended: homebuyers are actually reviewing their mortgage documents.  Instituted by the Consumer Financial Protection Bureau, the…

GSEs Exceed Goals for Credit Risk-Sharing

In 2013, both Fannie Mae and Freddie Mac, government-sponsored enterprises, initiated risk-sharing initiatives in order to transfer credit-risk from taxpayers to investors in the private sector. The institutions remain under the control of the FHFA…

Mortgage Credit Remains Too Tight According to CFPB’s Richard Cordray

Director of the Consumer Financial Protection Bureau, Richard Cordray, spoke to the Consumer Bankers Association on March 9th and described mortgage credit as being too tight.