All posts tagged Dodd-Frank

mortgagerules

CFPB busts Castle & Cooke Mortgage for violating new mortgage rules

The nation’s consumer watchdog took a bite out of an alleged mortgage reform violator in a recent federal district court filing that seeks to force the mortgage lender to ante up as much as millions of dollars in restitutions to consumers and civil penalties paid to the government. The company stands to pay more than $1 million in fines and restitutions.

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Wells Fargo circles the wagons amid mortgage reform

Wells Fargo Bank is getting out of the mortgage broker joint venture business, withdrawing due to mortgage reform. Wells Fargo Ventures, LLC, a wholly-owned operating subsidiary of Wells Fargo

mortgagerules

Mortgage reform amends ‘Ability-to-Repay’ rule

Federal Ability-to-Repay rule amendments and modifications should help garner greater access to credit by creating certain exemptions for small creditors, community development leaders and housing stabilization programs. Another amendment

mortgagerules

Mortgage reform targets home appraisals

Appraisal rules from the Consumer Financial Protection Bureau (CFPB) soon will give consumers additional rights to information on how a home value is determined as well as new

mortgagerules

Mortgage reform targets foreclosure abuse, mortgage servicing failures

Foreclosure abuse prevention is the target of a major set of new provisions in the Consumer Financial Protection Bureau's (CFPB) federal overhaul of mortgage regulations. The rules establish new,

mortgagerules

Mortgage reform targets incentives to sell toxic loans

On mortgage reform: "One of the reasons for the collapse was that mortgage borrowers were steered towards high-cost and risky loans they had no real chance of paying

mortgagerules

Mortgage reform targets high-cost mortgages

The Ability to Repay rule and Qualified Mortgages (QM) aren't the only mortgage reform rules coming down the pike. The landmark overhaul of federal mortgage regulations also includes protections

mortgagerules

Ability to repay ‘Qualified Mortgages’ centerpiece of landmark mortgage reform

A landmark overhaul of federal mortgage regulations is on its way to help prevent the kind of abusive mortgage practices that contributed to bringing down the housing market

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Q&A: What is the ‘Qualified Mortgage’ rule?

The Qualified Mortgage (QM) rule, also called the "Ability To Repay" rule, is the first-ever attempt at defining and establishing qualifying standards for borrowers applying for mortgage loans.  Under

fraud

Consumer watchdog snares mortgage loan modification scams

The Consumer Financial Protection Bureau (CFPB) announced Dec. 11 actions to halt two alleged mortgage loan modification scams it believes ripped-off thousands of struggling homeowners across the country.

newmortgagerules

‘Qualified Mortgage’ remains a qualified quandary

Bank executives are talking about it, credit union officials are talking about it, loan officers are talking about it, even the president and presidential candidate are talking about it. It's the so-called "qualified

studentdebt

Infographic: CFPB releases financial aid comparison shopper for students

CONSUMER FINANCIAL PROTECTION BUREAU -  The Consumer Financial Protection Bureau (CFPB) today launched the next phase of its Know Before You Owe student loan project by releasing a

meltdown

D.C.’s Theater of the Absurd: SEC sues former Fannie, Freddie execs for mortgage securities fraud

While taxpayers were pumping $150 billion into Fannie Mae and Freddie Mac to rescue them from collapse, Fannie and Freddie executives allegedly lied to investors, the public and

Consumer watchdog opens amid efforts to defang the new agency

Born of the massive Dodd-Frank Wall Street Reform Act, signed into law a year ago, the Consumer Financial Protection Bureau (CFPB) officially opened last week, it's plate full

mortgagerules

‘Qualified Residential Mortgage’ creating underwriting quandary

Overwhelming bipartisan support could loosen the shackles of mandatory regulatory change coming for mortgages, but probably not enough to allow consumers to escape the mortgage money squeeze they

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