CFPB, Federal Agencies, State Agencies, and Attorneys General
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
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 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
Our podcast show being released today is Part 1 of a repurposed interactive webinar that we presented on March 24, featuring two of the leading journalists who cover the CFPB – Jon Hill from Law360 and Evan Weinberger from Bloomberg.
Our show began with Jon and Evan chronicling the initiatives beginning on February 3 by CFPB Acting Directors Scott Bessent, Russell Vought and DOGE to shut down or at least minimize the CFPB.… Continue Reading
The CFPB has announced that Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for about 4,898 HMDA filers.
The data published contains loan-level information filed by financial institutions and modified to protect consumer privacy.… Continue Reading
In the waning hours of the first Trump Administration the U.S. Department of Housing and Urban Development (HUD) announced that effective January 19, 2021 individuals who are classified under the “Deferred Action for Childhood Arrivals” program (DACA) with the U.S. Citizenship & Immigration Service (USCIS) and are legally permitted to work in the U.S.… Continue Reading
In the latest edition of its Consumer Compliance Outlook, the Federal Reserve (Fed) identified the four most significant fair lending violations that it found in examining state member banks in 2022. These are violations that were typically identified in examinations as matters requiring attention or as matters requiring immediate attention.
Fair Lending Risk Assessment.… Continue Reading
The CFPB has taken action against the Draper & Kramer Mortgage Corp. (DKMC) based on allegations of discriminatory lending activities that, according to the CFPB, discouraged homebuyers from applying to the company for home mortgage loans in majority-Black and Hispanic neighborhoods in the Chicago and Boston areas.
The CFPB alleged that from 2019 through 2021, DKMC, a non-bank mortgage lender based in Downers Grove, Illinois, engaged in redlining, and that this resulted in the company significantly underperforming its peers in lending activity in the Chicago and Boston areas.… Continue Reading
