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For the latest news from the Consumer Finance Protection Bureau, please click the link below:

https://www.consumerfinance.gov/about-us/newsroom/

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eClosing and buying a home: Technology’s role in closing on a mortgage

Technology is transforming everything; it is changing the way we communicate, the way we access goods and services, and even the way we purchase homes. Soon, more and more consumers may increasingly find themselves being offered technology that allows them to access, sign, and submit mortgage closing documents online. We believe that “eClosing” can leverage technology in the mortgage closing process by providing consumers with more time to review closing disclosures and transform the way consumers relate to the overwhelming process of closing on a home.

When we asked consumers what they felt were the biggest issues...

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CFPB Finalizes Rule To Stop Payday Debt Traps

 

Lenders Must Determine If Consumers Have the Ability to Repay Loans That Require All or Most of the Debt to be Paid Back at Once

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Seven factors that determine your mortgage interest rate

 

Your lender knows how your interest rate gets determined, and we think you should, too. Learn more about the factors that affect your interest rate.

 

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FFIEC Announces Availability of 2016 Data on Mortgage Lending

 CFPB Takes Action Against Real Estate Settlement Services Provider for Steering Consumers to Affiliated Business

 

CFPB Orders Meridian Title to Disclose its Interests in Future Transactions and Pay up to $1.25 million

 

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Big changes coming for credit firms in wake of Equifax hack, CFPB director says

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Senate to soon vote to rescind new CFPB arbitration rule

Sen. Brown won't back down without a fight

With the Republican push for healthcare reform seemingly over for this year, it appears the Senate will likely vote on revoking the Consumer Financial Protection Bureau’s controversial arbitration rule soon.

According to an article in Reuters by Lisa Lambert and Pete Schroeder, “Once Republican lawmakers either pass or abandon their latest effort to redo healthcare...

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CFPB COMPILES LIST OF TOP TRID GAFFES

September 21, 2017

The Consumer Financial Protection Bureau (CFPB) released a list of common mistakes following the first round of mortgage origination examinations for compliance with the TILA-RESPA Integrated Disclosures (TRID) rule.

Referred to by the CFPB as Know Before You Owe, the bureau reported the findings in its summer edition of its Supervisory Highlights.

While the CFPB failed to provide a formal hold-harmless period, the bureau did state that it would be sensitive during these early examinations.

In the report, the bureau noted that supervised entities “were able to effectively implement and comply with the Know Before You Owe mortgage disclosure rule changes.”

However, the CFPB did compile a list of most common mistakes relating to the content and timing of Loan Estimates and Closing Disclosures:

Click here for more information


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CFPB Amends Rules to Provide Flexibility and Clarity to Certain Mortgage Lenders in Collecting Information

 

Bureau Also Seeks Public Comment on Proposal for Disclosure of Mortgage Data

 

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Equifax data breach updates

Top 10 ways to protect yourself in the wake of the Equifax data breach

CFPB Takes Action Against Top Notch Funding for Lying in Loan Offers to NFL Players, Deepwater Horizon Victims, and 9/11 First Responders

 

Proposed Order Would Shutter Post-Settlement Funding Business, End Deceptive Business Practices, and Impose Penalties

 

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CFPB Supervision Recovers $14 Million in First Half of 2017 for Over 100,000 Consumers Harmed by Illegal Practices

 

Bureau Supervision Requires Some Companies to Change Practices to Prevent Future Violations

 

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Credit reports and scores

Your credit reports and scores have a major impact on your financial opportunities. Our resources can help you better understand your credit reports and scores, learn how to correct inaccuracies, and improve your credit record over time.

Click the link below for more information:

https://www.consumerfinance.gov/consumer-tools/credit-reports-and-scores/

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Mortgages

Whether you are getting a mortgage, having trouble paying your mortgage, or want to learn about reverse mortgages, we have answers to your questions.

Click the link below for more information:

https://www.consumerfinance.gov/ask-cfpb/category-mortgages/

 

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Owning a Home:
Tools and resources for homebuyers

Whether you’re just thinking about buying a home or about to close, we help you take control of the process.

Click the link below for tips:

https://www.consumerfinance.gov/owning-a-home/