CFPB, Federal Agencies, State Agencies, and Attorneys General
The Washington Supreme Court issued an opinion on April 30, 2026, that deprives Washington state lenders of the right to nonjudicially foreclose residential-secured loans unless those loans are evidenced by a negotiable instrument—i.e., a promissory note with only basic payment terms that comports with RCW 62A.3-104.
The court further held that HELOCs and other types of multiple advance (e.g.,… Continue Reading
The U.S. Department of Housing and Urban Development (HUD) recently revised the requirements for bidding at a foreclosure sale and for utilizing Claims Without Conveyance of Title (CWCOT), including Post-Foreclosure Sales Efforts through the issuance of Mortgagee Letter 2026-03. The changes apply to all single-family forward mortgages under the Title II program, except for Hawaiian Home Lands Mortgages and Insured Mortgages on Indian Land.… Continue Reading
Today’s episode features Part 2 of our November 4 webinar, “The CFPB’s Most Ambitious Regulatory Agenda Ever.” (Part 1 of this series was released on December 18. We encourage you to listen to that episode as well). In Part 2, we continue to unpack the far-reaching implications of the Consumer Financial Protection Bureau’s (CFPB) regulatory ambitions.… Continue Reading
The legislation reopening the government signed by President Trump, H.R. 5731, also reauthorizes the National Flood Insurance Program (NFIP) until January 30, 2026, the same day the spending measure lapses. The reauthorization is retroactive to October 1 the beginning of the fiscal year and the day the NFIP authorization expired.
Once again, the short-term reauthorization was included in a short-term spending bill, since Congress has been unable to pass a comprehensive NFIP reauthorization bill.… Continue Reading
If Congress does not reauthorize the National Flood Insurance Program (NFIP) by September 30, major parts of the program will expire—a lapse that could cause major problems in the mortgage industry.
In past NFIP lapses, borrowers were not able to purchase flood insurance to close, renew or increase loans secured by property that required flood insurance.… Continue Reading
President Trump has signed a bill that would restrict the use of “trigger leads” in the mortgage industry. The legislation will become effective on March 4, 2026.
We previously reported on the passage of the legislation here.
The law amends the Fair Credit Reporting Act to prohibit consumer reporting agencies from furnishing a trigger lead except in limited circumstances. … Continue Reading
A federal judge has dismissed a high-profile case involving allegations that a home appraiser was racially biased in his appraisal.
U.S. District Judge Stephanie A. Gallagher of the U.S. District Court for the District of Maryland ruled that Nathan Connolly and the estate of Shani Mott, who passed away in March of 2024, failed to provide an appraisal expert to support their claims against Shane Lanham and his company, 20/20 Valuations, LLC.… Continue Reading
The House has passed legislation that would ban “trigger leads,” except in limited circumstances.
The “Homebuyers Privacy Protection Act of 2025,” H.R. 2808, passed the House by voice vote. The Senate has passed, S. 1467, a slightly different version of the bill by unanimous consent. The two bodies must now reconcile differences between their bills.… Continue Reading
Our podcast show being released today features two former CFPB senior officers who were key employees in the Supervision Division under prior directors: Peggy Twohig and Paul Sanford. Peggy was a founding executive of the CFPB when the agency was created in 2010 and led the development of the first federal supervision program over nonbank consumer financial companies.… Continue Reading
As Rich Andreano blogged on April 15, 2025, legislation to prohibit or restrict so-called “trigger leads” in the home-buying process has been reintroduced in the House and Senate. The legislation has broad industry and consumer group support.
While we await the outcome of the proposed bills, it is worth noting that a number of states have enacted laws that impose restrictions on the manner in which brokers or lenders are permitted to leverage trigger leads in connection with their mortgage activities. … Continue Reading
