Posts Tagged ‘Consumer Financial Protection Bureau’

State reaches $7M settlement with Ocwen

JACKSON — Ocwen Financial Corporation of Atlanta and its subsidiary, Ocwen Loan Servicing, have agreed to a $2.1-billion joint state-federal settlement with Attorney General Jim Hood, 48 additional state attorneys general and the District of Columbia as well as the Consumer Financial Protection Bureau (CFPB). The settlement terms address servicing misconduct by Ocwen, and two […] [...]

Bursting balloons: New mortgage rules may deflate non-traditional lending

New federal mortgage lending rules soon to take effect will handcuff lenders in many rural Mississippi counties who make non-traditional mortgage loans and keep the loans on their books, bankers in the state say. The rules are yet another piece of fallout from the banking crisis of the late part of the last decade. In […] [...]

Bynum picked by Bureau

The Consumer Financial Protection Bureau (CFPB) has named Bill Bynum, CEO of HOPE (Hope Enterprise Corporation/Hope Credit Union) as vice chairman of the federal agency’s inaugural Consumer Advisory Board. Bynum will bring nearly three decades of experience in community development finance to the task of advising the agency in its efforts to help consumer finance […] [...]

Realtors, bankers, builders concerned that new regulations will dampen housing recovery

A provision of the Dodd-Frank banking reform law has non-profit housing provider Habitat for Humanity worried it could get into legal hot water making loans to high-risk borrowers. The Consumer Financial Protection Bureau, or CFPB, created by the banking reform legislation is setting rules for implementing qualified mortgage and ability-to-pay regulations. The measures are designed […] [...]

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