Asset Recovery Associates told borrowers that it could sue them, garnish their wages and place liens against their homes, according to a consent order by the consumer bureau.

Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule.

Robert G. Cameron, a former official at the Pennsylvania Higher Education Assistance Agency, will succeed Seth Frotman as the bureau's point person on student lending complaints.

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.

With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.

The Upstart Network, the first and only startup to participate in the bureau’s program for promising digital platforms, claims that using nontraditional credit data items has helped loan volume and affordability.

A gradual approach would help the market absorb loans affected by the government-sponsored enterprises' expiring qualified mortgage exemption, a Redwood Trust executive told analysts during a recent earnings call.

Many in the industry say releasing GSE-backed loans from stringent underwriting rules has helped the housing market recover, but a new level of regulatory burden could reverse those gains.

Fannie Mae's current tack could help it weather some of the new challenges confronting the government-sponsored enterprises, including the planned expiration of its qualified mortgage rule exemption and rate-driven earnings volatility.

The mortgage industry was caught off guard by regulators’ decision to cease special treatment for Fannie Mae and Freddie Mac in complying with underwriting rules. But how big of an impact will the new policy have?

The agency’s director said it will let a temporary GSE exemption from the “qualified mortgage” regulation expire.

State and federal authorities say the network of firms in upstate New York sought debts that consumers weren't obligated to pay and impersonated government officials, among other things.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

The agency had decided not to challenge a recent court ruling that its structure violates the separation of powers, but newly confirmed Director Mark Calabria now appears willing to the fight the case.

After the government-sponsored enterprise patch expires, "near prime" loans over the 43% debt-to-income ratio should be qualified mortgages if they have compensating factors, according to the Center for Responsible Lending.

The CFPB did not file any fair-lending enforcement actions in the 2018 fiscal year and did not refer any Equal Credit Opportunity Act violations to the Department of Justice.

The CFPB is giving trade groups and consumer advocates another three months to comment on its proposal to change what data is collected under the Home Mortgage Disclosure Act.

Sen. Elizabeth Warren said Eric Blankenstein's past writings disqualify him from working at the Department of Housing and Urban Development.

The mortgage agency has hired Eric Blankenstein, who sparked controversy while at the consumer bureau over past revelations of racially charged writings.

The little-known unit was launched in the wake of efforts by the CFPB and HUD to cut back on fair-lending activities, but the reach of the 10-month-old office is still unclear.