Key Insight: All eyes are on the Slaughter v. Trump case, which will be heard by the Supreme Court at the end of the year. How that case plays out could decide whether Federal Reserve Governor Lisa Cook can remain at the central bank. Expert Quote: “If they overturn Humphrey’s Executor and do so in […]
Experts say Supreme Court could combine independence cases Read More »
Key Insight: Washington Federal Bank and Planet Home Lending are only the latest in a long list of businesses against which the CFPB has terminated its consent orders. Supporting Data: Since Donald Trump returned to the White House, the CFPB has dropped dozens of enforcement actions and initiated only two. Expert quote: “It’s clear that
CFPB drops enforcement actions against two more lenders Read More »
In our Tech Disruption survey, National Mortgage News asked participants “What technology is in use in your organization?” When it came to “advanced fraud protection tools,” significant shares of banks, credit unions and nonbank mortgage lenders all said they do employ them. However, a 13 percentage point gap exists between banks (86%) and nonbanks (73%);
EXCLUSIVE RESEARCH: Fraud tech gaps emerge between banks and nonbanks Read More »
Key Insight: The CFPB still exists and mass layoffs have not yet occurred but the Trump administration has dropped enforcement actions and eliminated rules, nullifying the agency’s broad reach. Expert Quote: “The last eight months or so have been unlike any others with just a completely different tenor, completely different levels of activity and a
How the Trump administration has neutralized the CFPB Read More »
Key Insight: Democratic Lawmakers say the 2023 CRA made important updates to a decades old framework, accounting for online banking and reducing CRA “grade inflation.” Supporting Data: The 2023 rule was backed by bipartisan members of the Federal Reserve Board, including Governor Waller and Chair Powell. Forward Look: Lawmakers are pressing regulators to defend the
Senate Democrats urge regulators to rethink CRA reversal Read More »
The American Land Title Association has filed an amicus brief in support of Fidelity National Financial, which is suing the Treasury Department and the Financial Crimes Enforcement Network, looking to stop an anti-money laundering regulation reporting requirement. The Biden Administration promulgated the rule, which is set to go into effect on Dec. 1. FNF sued
ALTA files brief in support of Fidelity in Fincen case Read More »
Equity Prime Mortgage is defending its lending practices after a federal regulator terminated some of its regional approvals following a data analysis review. The Department of Housing and Urban Development won’t allow EPM to submit Federal Housing Administration loans in six eastern jurisdictions, it disclosed Thursday. The terminations relate to certain elevated default and claim
Equity Prime Mortgage fires back at HUD’s FHA prohibitions Read More »
Key Insight: Congress passed the president’s massive tax and spending bill in July that lowered the maximum amount of funding the CFPB can request from the Federal Reserve System. Supporting Data: The CFPB’s fiscal 2025 operating budget is capped at an estimated $446 million, a 43% drop from the funding cap of $785.4 million in
CFPB warns staff of upcoming layoffs due to GOP funding cuts Read More »
Housing finance experts have a myriad of ideas for President Donald Trump should he declare a national housing emergency. Treasury Secretary Scott Bessent hinted at the move in a Labor Day interview with the Washington Examiner, noting that closing costs “are on the table.” While housing regulators have implemented some measures this year to address
What lenders want if Trump declares housing emergency Read More »
US Chief Justice John Roberts let President Donald Trump temporarily oust a Democratic member of the Federal Trade Commission, signaling that the Supreme Court is likely to back Trump’s bid to assert control over the independent agency. Rebecca Kelly Slaughter, the FTC’s only Democrat, had briefly returned to her job after a federal appeals court
US chief justice lets Trump oust FTC commissioner for now Read More »