Today, the Consumer Financial Protection Bureau released its annual analysis of residential mortgage data, which generally covers mortgages originated in 2022 and reported by lenders under the Home Mortgage Disclosure Act. There are a number of important findings from our analysis:
On September 15, the U.S. District Court for the District of New Jersey denied the defendant’s summary judgment motion holding instead that a bank levy against the plaintiff served as a basis for standing to assert a claim under the Fair Debt Collections Practices Act (FDCPA).
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends. In 2022, mortgage applications and originations declined markedly from the prior year, while rates, fees, discount points, and other costs increased.
The Federal Trade Commission and Justice Department announced today that they plan to hold two additional workshops to facilitate public dialogue on the 2023 Draft Merger Guidelines that the agencies announced in July. Like the agencies’ first workshop on September 5, these events will promote a detailed discussion about the draft guidelines to complement the thousands of public comments submitted to the agencies. Each of the two remaining workshops will be held in-person at an academic institution.
CUNA and NAFCU wrote to senate leaders this week in opposition of a “minibus” amendment that would create an “all-in” annual percentage rate (APR) cap of 36%. The organizations note that the provision would have a “seismic” impact on small-dollar loans and credit cards.
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