The Consumer Financial Protection Bureau (CFPB) has issued a guidance related to legal requirements that lenders must follow when using artificial intelligence (AI) and other complex models. The CFPB noted that creditors often use complex algorithms with large...
The Consumer Financial Protection Bureau (CFPB) has levied a $1.75 million fine against Freedom Mortgage Corp., accusing the Boca Raton, Florida-based lender of providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals. The...
The Consumer Financial Protection Bureau (CFPB) issued an order against Elkhorn, Nebraska-headquartered ACI Worldwide (NASDAQ:ACIW) and its subsidiary ACI Payments for improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions....
Five federal regulatory agencies have requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions. “The proposed guidance advises on policies that financial institutions may implement to allow...
Six federal regulatory agencies have jointly requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate valuations. In a statement, the agencies said the proposed rule would “implement quality control...
State Farm and Allstate Take Steps Toward Reopening California Home Insuran…
