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CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’

CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’

by Phil Hall | May 30, 2024 | Current News & Events, Industry Updates, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Consumer Financial Protection Bureau (CFPB) has begun a public inquiry into mortgage closing costs, claiming that so-called “junk fees” are inflating these costs. The agency issued a request for information regarding which fees are subject to competition, how fees...
CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’

Supreme Court Upholds CFPB Funding Structure

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

The U.S. Supreme Court issued a 7-2 ruling that declared the funding mechanism of the Consumer Financial Protection Bureau (CFPB) did not run afoul of the Appropriations Clause of the Constitution. The case, Consumer Financial Protection Bureau v. Community Financial...
CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’

CFPB Takes Aim at Mortgage Servicers Over ‘Junk Fees’

by Phil Hall | Apr 24, 2024 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

The Consumer Financial Protection Bureau (CFPB) is pursuing the Biden administration’s campaign against so-called junk fees by publishing an edition of Supervisory Highlights featuring what the agency described as its actions “to combat junk fees charged by mortgage...
MBA CEO Broeksmit Challenges CFPB Claims of ‘Junk Fees’ in Closing Costs

MBA CEO Broeksmit Challenges CFPB Claims of ‘Junk Fees’ in Closing Costs

by Phil Hall | Mar 11, 2024 | Current News & Events, Industry Updates, Real Estate News, U.S. Housing Market, WRE News Exclusive

The head of the Mortgage Bankers Association (MBA) has criticized the Consumer Financial Protection Bureau (CFPB) of being both “politically motivated” and ignorant regarding the closing costs process in homebuying. On Friday, the CFPB published a blog...
CFPB Launches Public Inquiry into Mortgage Closing ‘Junk Fees’

CFPB Faulted on Lack of Transparency in Civil Penalty Fund Disbursement

by Phil Hall | Feb 27, 2024 | Industry Updates, Real Estate News, WRE News Exclusive

An online news site has filed a Freedom of Information Act (FOIA) request to the Consumer Financial Protection Bureau (CFPB) to produce the full list of organizations that received payments from the Civil Penalty Fund that was created when the agency was established...
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