Compliance

The Consumer Financial Protection Bureau (CFPB) has charged Prospect Mortgage LLC with paying illegal kickbacks for mortgage business referrals and ordered it to pay a $3.5 million civil penalty
Another bill has been introduced into the U.S. Senate that challenges the current state of the Consumer Financial Protection Bureau (CFPB).   Sen. Mike Rounds (R-SD), a member of the Senate Banking Committee, introduced legislation to eliminate the CFPB’s funding stream from the Federal Reserve.... Keep Reading....
In a somewhat surprising Facebook message, Sen. Elizabeth Warren (D-MA) sought to explain to her constituents why she voted yesterday to approve the nomination of Dr. Ben Carson as the next Secretary of Housing and Urban Development
Sen. Elizabeth Warren (D-MA) may be the most visible critic of President Donald Trump in the U.S. Senate, but most of her constituents believe it is time for someone else to represent them. According to a WBUR report, a new poll of Massachusetts voters found that only 44 percent think Warren "... more
In its first enforcement action under the new Trump Administration, the Consumer Financial Protection Bureau (CFPB) penalized CitiFinancial Servicing and CitiMortgage Inc. for what it described as “giving the runaround to struggling homeowners seeking options to save their homes.” The CFPB claimed... more
The Trump Administration was barely an hour old when its first action was set forth: The suspension of a January 9 decision by the Obama Administration in which the Federal Housing Administration (FHA) would reduce the annual premiums by 25 basis points for most new mortgages with a closing or... more
PointPredictive Inc. has announced the launch of a new mortgage fraud score that provides an enhanced, real-time assessment of misrepresentation risk allowing lenders to reduce the number of applications currently selected for detailed fraud reviews by investigators. This score should be requested... more