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Regulation Z Enforcement Actions Mortgage Lenders

Goodwin

CFPB Enters Into Consent Order with Mortgage Lender for $140,000

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On April 27, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a reverse mortgage broker and lender, resolving allegations that the company violated the Mortgages...more

Goodwin

CFPB Sues Connecticut-Based Mortgage Lender

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On January 15, 2021, the Consumer Financial Protection Bureau (CFPB) announced it had filed suit in the United States District Court for the District of Connecticut against a Connecticut-based mortgage company and three...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 4, August 2020

Welcome! Welcome to August’s issue of All Consuming. This month, we are taking a deep dive into discharges in bankruptcy and then reviewing several top news stories in the world of consumer finance. We hope you find value...more

Goodwin

CFPB Announces $1.1 Million Settlement with California-based Lenders to Resolve Allegations of Unfair and Deceptive Practices

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On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it entered consent orders (here and here) against two California-based mortgage lenders, resolving allegations that the lenders violated the...more

MoFo Reenforcement

Strike Two for Alleged L.O. Comp. Violations

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Last week, the Bureau announced a $730,000 settlement with Franklin Loan Corporation (Franklin) based on alleged violations of the loan originator compensation rule in Regulation Z. That rule prohibits mortgage lenders from...more

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