News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Veterans Administration

Orrick, Herrington & Sutcliffe LLP

CFPB shutters mortgage lender, alleging deceptive advertising

On February 27, the CFPB entered a consent order against a California-based mortgage lender (respondent) for alleged repeat violations of the Consumer Financial Protection Act, TILA (Regulation Z), and the Mortgage Acts and...more

Alston & Bird

Appraisal Values and Lender Liability: Art, Science, or Gamble?

Alston & Bird on

As part of the Biden Administration’s stated focus on narrowing the racial gap in wealth and homeownership, federal agencies launched an Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), with the goal...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - October 2021

Lowenstein Sandler LLP on

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106. Under this order,...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need to Know - July 2021

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more

Goodwin

CFPB Continues to Target Misleading VA Mortgage Loan Advertisements

Goodwin on

On September 14, 2020, the Consumer Financial Protection Bureau (CFPB) announced a settlement in its eighth case arising out of the CFPB’s “sweep of investigations” of mortgage companies allegedly mailing deceptive...more

Ballard Spahr LLP

CFPB Issues Additional Consent Orders for False and Misleading Mortgage Advertising

Ballard Spahr LLP on

Since late July, the CFPB has issued seven consent orders against mortgage companies in which the CFPB asserts that the companies engaged in false and misleading advertising to service members and veterans. ...more

Ballard Spahr LLP

CFPB issues Office of Servicemember Affairs 2019 annual report

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Earlier this month, the Office of Servicemember Affairs (OSA) released its annual report covering the Office’s activities during fiscal year 2019, which covers the period of October 1, 2018 to September 30, 2019....more

Ballard Spahr LLP

CFPB Targets Another Mortgage Lender for Deceptive Advertising

Ballard Spahr LLP on

The CFPB has announced the settlement of an enforcement action against a California-based mortgage lender for alleged deceptive advertising practices, including the use of advertisements that the CFPB claimed falsely led...more

McGuireWoods LLP

CFPB Continues Focus on Mortgage Lender Advertising

McGuireWoods LLP on

Last week, the CFPB announced an enforcement action against RMK Financial Corporation d/b/a Majestic Home Loans (RMK) related to deceptive mortgage advertising practices....more

Manatt, Phelps & Phillips, LLP

CFPB Takes Action Against Mortgage Lender Targeting Veterans, Imposes $2M Penalty

Why it matters - Alleged deceptive marketing by a mortgage lender to veterans was at the heart of the Consumer Financial Protection Bureau’s (CFPB) latest enforcement action. NewDay Financial, LLC, “profited from the...more

Bradley Arant Boult Cummings LLP

A “Bad Day” for NewDay - CFPB finds RESPA and UDAAP Violations in Marketing Arrangements

The CFPB has issued another Consent Order finding certain marketing and advertising services arrangements to violate RESPA’s prohibition on kickbacks. The CFPB required the lender, NewDay Financial, LLC (“NewDay”), to pay a...more

McGuireWoods LLP

CFPB Issues $2 Million Fine Against Mortgage Lender

McGuireWoods LLP on

Last week, the Consumer Financial Protection Bureau (CFPB) announced that mortgage lender NewDay Financial LLC, which specializes in Veterans Administration-backed loans available to military personnel and veterans, had...more

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