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Guest Opinion: The CFPB’s Approach to Mortgage Refinancing

Guest Opinion: The CFPB’s Approach to Mortgage Refinancing

by Rohit Chopra | Sep 10, 2024 | Guest Opinion, Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Rohit Chopra is director of the Consumer Financial Protection Bureau (CFPB). This article is adapted and edited from a speech delivered yesterday at the National Housing Conference in Washington, DC. While we often focus on homeownership as a vehicle for accumulating...
CFPB Fines NewDay USA $2.25 Million Over Misleading Costs on Cash-Out Refinance Loans

CFPB Fines NewDay USA $2.25 Million Over Misleading Costs on Cash-Out Refinance Loans

by Phil Hall | Aug 30, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The Consumer Financial Protection Bureau (CFPB) has fined New Day Financial (NewDay USA) $2.25 million for problems related to active duty servicemembers and veterans seeking cash-out refinance loans. New Day Financial is a nonbank direct mortgage lender headquartered...
CFPB Fines NewDay USA $2.25 Million Over Misleading Costs on Cash-Out Refinance Loans

House GOP Members Warn CFPB on Removing Medical Bills from Credit Reports

by Phil Hall | Aug 16, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

Republican lawmakers in the House of Representatives have raised concern over a proposed rule by the Consumer Financial Protection Bureau (CFPB) that would remove medical bills from consumer credit reports. In a letter to CFPB Director Rohit Chopra, the lawmakers led...
CFPB Issues Warning on Contract-for-Deed Transactions

CFPB Issues Warning on Contract-for-Deed Transactions

by Phil Hall | Aug 14, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Consumer Financial Protection Bureau (CFPB) has released an advisory opinion and research report highlighting predatory lending concerns related to contract-for-deed home selling. In a press statement, the CFPB warned that contract-to-deed transactions “often have...
A Phil Hall Op-Ed: Why Did the CFPB Slam the Residential Solar Lender Sector?

A Phil Hall Op-Ed: Why Did the CFPB Slam the Residential Solar Lender Sector?

by Phil Hall | Aug 12, 2024 | A Phil Hall Op-Ed, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A Phil Hall Op-Ed: It is extremely rare for a government agency to publish anything that is even vaguely negative in connection with green energy, which makes last Thursday’s announcement by the Consumer Financial Protection Bureau (CFPB) regarding solar financing...
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