CFPB
New CFPB Report Finds Three Major Credit Bureaus Providing Insufficient Complaint Responses
A new analysis by the Consumer Financial Protection Bureau (CFPB) reveals how changes in complaint responses provided by nationwide consumer reporting companies resulted in fewer meaningful responses and less consumer relief. In 2021, Equifax, Experian and TransUnion together reported relief in response to less than 2% of covered complaints, down from nearly 25% of covered […]
CFPB Consumer Complaint Bulletin Examines County-Level Demographic Data
Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022….(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it. Around The Web
CFPB Goes After 6 VA Lenders for Shady Practices
The Consumer Financial Protection Bureau (CFPB) has been on a two-month enforcement tear aimed at mortgage lenders employing deceptive practices in the VA mortgage lending area. The Bureau has issued consent orders against six companies since late July in what it terms a “sweep” in response to concerns about potentially unlawful advertising in the market […]
Forbearances Decrease by 4%; CFPB Goes After VA Lenders; Strong Case For Locking a Rate
The number of homeowners with mortgages in COVID-19 related forbearance plans dropped during the week ended September 1 after several weeks when there was little change. Black Knight said its weekly survey found 147,000 fewer borrowers in plans than the previous week, a decline of about 4 percent. The company says last week’s decrease means […]