In its first No-Action Letter under the new revised policy, the CFPB addresses a long-standing issue under the Real Estate Settlement Procedures Act regarding certain payment arrangements between mortgage lenders and housing counseling agencies.  We previously reported on the CFPB issuing its final No-Action Letter policy and other innovation policies.  (The CFPB issued just one

The CFPB has issued a final rule to assist lender compliance with RESPA and TILA homeownership counseling requirements.  Under RESPA, a lender must provide applicants for a federally related mortgage loan with a list of certified homeownership counselors.  TILA prohibits a creditor from making a high-cost mortgage loan unless it receives written certification that the

The CFPB has announced a new project as part of its Project Catalyst initiative, which the CFPB describes as ” designed to encourage consumer-friendly developments in markets for consumer financial products and services.”  The new project is a research pilot to examine the effectiveness of early intervention credit counseling for consumers who are at risk