News & Analysis as of

Regulation Z Mortgage Loan Originators Mortgage Lenders

Goodwin

CFPB Issues New Rule on Use of Artificial Intelligence Models in Mortgage Lending

Goodwin on

​​​​​​​On June 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had approved a new rule about the use of algorithms and artificial intelligence (AI) for home appraisals and valuations....more

Venable LLP

CFPB Homes in on Mortgage "Junk Fees"

Venable LLP on

Recent releases from the Consumer Financial Protection Bureau (CFPB) show that the mortgage industry is in the crosshairs of the CFPB's campaign against so-called junk fees. Earlier this year, the CFPB indicated its interest...more

Nexsen Pruet, PLLC

Consumer Financial Protection Bureau: The Consumer Financial Protection Bureau's new "Know Before You Owe" Mortgage Disclosure...

Nexsen Pruet, PLLC on

The Consumer Financial Protection Bureau (“CFPB”) recently issued or perhaps had to issue a proposed amendment to the “Know Before You Owe mortgage disclosure rule,” also known as the “TILA-RESPA Integrated Disclosure” rule,...more

Ballard Spahr LLP

Company that entered into CFPB consent order loses motion to dismiss class action

Ballard Spahr LLP on

A California federal judge has rejected the attempt of Castle & Cooke Mortgage, LLC, the mortgage company that entered into a consent order with the CFPB in November 2013 to settle charges that it violated the Regulation Z...more

Ballard Spahr LLP

CFPB takes aim (again) at loan originator compensation

Ballard Spahr LLP on

Two days after announcing a proposed consent order with a mortgage company and its CEO to settle charges that the company paid bonuses and higher commissions to loan officers in violation of the Regulation Z loan originator...more

MoFo Reenforcement

Strike Two for Alleged L.O. Comp. Violations

MoFo Reenforcement on

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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