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Manatt Adds Leading CFPB Regulator to Growing National Financial Services Group

Former CFPB Associate Director Bryan Schneider brings unparalleled regulatory experience to the firm’s expanding hybridized financial services group

Low Home Appraisal? What to Do if You Suspect Discrimination

Low Home Appraisal? What to Do if You Suspect Discrimination
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Spike In Refis Led Last Year s Home-Lending Boom, New Data Shows

Inman Connect The number of homeowners refinancing their mortgages more than doubled last year, driving a boom in home lending during the early months of the pandemic, new federal data shows. Lenders in 2020 reported refinancing more than 8.7 million loans for single-family properties, up from 3.7 million the year before, according to data released Thursday by the Federal Financial Institutions Examination Council.  A broad class of financial institutions is required to report this information each year in accordance with the Home Mortgage Disclosure Act, which seeks details about applications for home loans.  The dataset offers a detailed window into trillions of dollars worth of originated loans for home purchases, home-improvement projects, refinancing and other purposes. 

New NYDFS Unit Signals Focus On Fair Lending And Financial Inclusion - Finance and Banking

In Short The Situation: The New York Department of Financial Services ( NYDFS ) has established a Statewide Office of Financial Inclusion and Empowerment, providing yet another example of state and federal regulators prioritizing fair lending and financial inclusion. The Result: The NYDFS announcement highlights the Department s ongoing efforts to facilitate broader financial inclusion and empowerment for minorities and underserved communities. These efforts are consistent with other state and federal agencies financial inclusion initiatives, as well as recent statements by federal and state regulators regarding an increased focus on fair lending practices by financial institutions. Looking Ahead: Coordinated actions among, and scrutiny by, state and federal agencies with respect to fair

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