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
mortgage
NFIP reauthorization included in spending bill
By Ballard CFS Group on
Posted in Flood Insurance
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
NFIP authorization expires Sept. 30
By Richard J. Andreano, Jr. on
Posted in Flood Insurance
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
Trump signs ‘trigger leads’ bill
By Richard J. Andreano, Jr. on
Posted in Mortgages, Trump Administration
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 5, 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
Federal judge dismisses high-profile case involving allegations of racial discrimination in appraisals
Posted in Appraisals, Trump Administration
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
House passes ‘trigger leads’ bill
By Richard J. Andreano, Jr. on
Posted in Mortgages
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
Today’s podcast episode: The Impact of the Newly Established Priorities and Massive Proposed Reduction in Force (RIF) on CFPB Supervision
By Ballard CFS Group on
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
Trigger Leads – Don’t Forget about the States
By John D. Socknat on
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
HUD further revises servicing and claims requirements and loss mitigation options
By Richard J. Andreano, Jr. on
In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans effective February 2, 2026.
HUD recently issued Mortgagee Letter 2025-12 further revising the requirements and options effective October 1, 2025.… Continue Reading
Legislation to prohibit ‘trigger leads’ in mortgage industry reintroduced in House, Senate
By Richard J. Andreano, Jr. on
Posted in Mortgages
Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate.
“Trigger leads” are controversial for both consumers and mortgage industry participants. When a mortgage lender orders a credit report on a consumer, the credit bureau providing the report may then alert various other mortgage lenders who have subscribed to a service of that fact, which is a good indication that the consumer is seeking a mortgage loan.… Continue Reading