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HousingWire interviewed more than a dozen loan officers, mortgage executives, attorneys to shed light on the practice of LOs falsifying lead sources to gain a pricing edge on competitors.
The US federal banking regulators recently finalized major changes to their decades-old Community Reinvestment Act (CRA) regulations, which will have significant consequences for many US banks.
The Consumer Financial Protection Bureau (CFPB) said Friday it would take a “fresh look” at its Qualified Mortgage (QM) rule.
The CFPB reminded lenders they are required by law to disclose the reason a customer was denied credit, even if based on a complex algorithm.
The Federal Housing Finance Agency has indicated that lenders will be required to demonstrate policies addressing the risk on business.