Skip to main content

NAMB issues Call to Action on CFPA amendments
Oct 15, 2009

Take action now! Call your House Financial Services Committee representative and ask him or her to support the following three amendments to HR 3126, the “Consumer Financial Protection Agency Act of 2009.” This bill is currently being considered by the House Financial Services Committee. 1. An amendment nullifying the Home Valuation Code of Conduct (HVCC) to undergo federal rulemaking is being offered by Reps. Childers, Miller, Manzullo and Bachmann. The HVCC is an agreement between the New York Attorney General, Freddie Mac and Fannie Mae and administrative agency of the federal government, the FHFA that has dramatically damaged the home mortgage process across the nation. 2. The second amendment, which may be offered by Rep. Judy Biggert, would require the U.S. Department of Housing & Urban Development (HUD) to provide for a more gradual implementation period for its Real Estate Settlement Procedures Act (RESPA) rule. HUD issued their regulation without regard to conflicts with the Federal Reserve Boards’ Truth-in-Lending Act (TILA) rules. This amendment would require HUD and the Federal Reserve to coordinate their regulatory efforts to ensure comparable RESPA and TILA disclosures. 3. Lastly, an amendment offered by Rep. Gary Miller would require even handed treatment between types of companies offering mortgages or other products. HR 3126 imposes duties on covered persons and their agents and employees to ensure fair dealing with consumers in financial transactions. Such rules may establish duties regarding compensation practices and specifically prohibits the CFPA from capping the amount of compensation paid to any person. The amendment clarifies that the CFPA, in rulemaking, does not pick winners and losers that are offering the same mortgage product to consumers. The amendment ensures that there is no disparate treatment among industry participants whether they are federally chartered or state chartered, big or small.   Click here for a list of HFSC member and staff contact information. For more information, visit
Oct 15, 2009
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021