Mortgages

The bar to prove discriminatory patterns is so high that plaintiffs would have slim odds of winning lawsuits against housing providers.

The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.

The former chairman of the National Credit Union Administration will work with the fintech to broaden its reach in the credit union space.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.

The company's software can now be used to handle personal loans, credit cards and specialty-vehicle loans.

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.

Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.

Credit unions need to improve their processes to ensure the problems that have arisen with credit reporting during the coronavirus don't happen again.