Attention lenders: The CFPB is now focusing more on fair lending in mortgages

That means the office won’t be able to go after lenders that charge higher interest rates to minorities than to whites or otherwise discriminate. Instead, staff will now focus. lending, and the.

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Passing the NMLS Exam - What is the CFPB The FTC also issued a recent ‘Staff Perspective’ document that indicated the regulator’s renewed attention on several more areas of fair lending compliance, as well as Military Lending Act issues and other issues that affect military consumers. Illegal debt collection practices and UDAPs were also listed.

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Last week, the Consumer financial protection bureau (cfpb) issued a letter of warning to 44 mortgage lenders and brokers that their mortgage data collecting and reporting might not be quite up to.

If you aren’t yet analyzing your lending data for Redlining risk, now is the time to start. It has been a priority throughout 2016, and that will continue into 2017. [free white Paper: Redlining Risk Analysis] 2. Servicing for Mortgages and Student Loans. The CFPB will be focusing on servicing for mortgages and student loans.

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It also requires lenders to provide information on other loans tied to a home, such as reverse mortgages and open-end lines of credit. "This information will enhance the ability to screen for possible fair lending problems, helping both institutions and regulators focus their attention on the riskiest areas where fair lending problems are most.

Shares in the nation’s largest auto lender. The regulators’ focus on consumer protection in the auto-lending sphere is still in its early stages. But industry sources expect the CFPB and other.

For more information, contact Darryl Hicks. Today, mortgage. a lending national lender, and offers a wide range of government, conventional, jumbo and non-agency loans, in addition to participating.

However, regulators should not simply mandate all federal laws associated with a national bank charter must now apply to non-bank lenders. achieve a more efficient market in small business lending..

The Consumer Financial Protection Bureau (CFPB) will give more attention to fair lending law compliance in 2017, reports HousingWire.The regulatory agency has said it will be giving increased attention to "redlining, mortgage and student loan servicing, and small business lending," according to the report.

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