The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is delayed.
The Trump administration's Justice Department was expected to be less aggressive in its pursuit of False Claims Act cases against the mortgage industry. Instead, its focus has shifted to Federal Housing Administration-insured reverse mortgages.
The Federal Housing Administration's gateway to homeownership could be widened if the Trump administration takes actions to reduce mortgage insurance premiums and clarify lender penalties under the False Claims Act.
Bank of the West is using alternative data and the international expertise of its parent company to tap into the lucrative but difficult to underwrite market of middle- and upper-class immigrant mortgage borrowers.
As financial institutions look closer at the increasingly detailed consumer credit data available, they are learning consumers are more apt to pay off personal loans before mortgages, auto loans and credit cards.