Consumers can now allege wide range of problems to federal authority.
Members write banks in their districts will not be ready in time.
WASHINGTON—Richard Cordray, director of the Consumer Financial Protection Bureau, defended his agency’s qualified mortgage regulations against recent criticism during the Mortgage Bankers Association annual convention here Oct. 28. (See more coverage on page 3.)
Chief economist Bill Hampel testifies on housing finance reform Tuesday before Senate Banking Committee.
Rules took effect Monday and Self-Help FCU sees benefits.
If a credit union or other mortgage lender makes the business decision to only offer qualified mortgages, that fact alone would not increase the likelihood of a fair lending exam.
New mortgage lending rules from the Consumer Financial Protection Bureau could affect the willingness of credit unions to offer new mortgage loans, a new CUNA survey showed.
WASHINGTON — Sen. Elizabeth Warren says regs may be needed anew on bundled mortgage-backed securities.
WASHINGTON — CFPB director tells confab that 95% of current mortgage lending will qualify.
Dodd-Frank mandate requires CUs with more than 100 employees to file annual diversity self-assessments. NCUA will not use the exam process to assess diversity.