CFPB Investigating Quicken’s Real Estate Affiliate
In a little-known civil action, the Consumer Financial Protection Bureau is investigating the real estate affiliate of Quicken Loans for alleged illegal kickbacks. Specifically, the consumer watchdog agency is wondering whether Rocket Homes Real Estate violated the...
GSE Patch Extended
Without having chosen a new definition for qualified mortgages, the Consumer Financial Protection Bureau has decided to extend the Government-Sponsored Enterprise (GSE) Patch, a move that could protect borrowers with high debt-to-income ratios. Yesterday’s ruling will...
Banks Get Extension to File Annual, Quarterly Call Reports
With federal and state regulators encouraging banks and credit unions to support customers during the coronavirus pandemic, agencies have in turn relaxed some of the filing deadlines for financial institutions. The FDIC announced on Friday that banks could have a...Fewer Appraisals Are Mandated, But They’re Still a Good Idea
Some homebuyers are about to catch a break, courtesy of the Federal Reserve Board and other banking regulators. As long as the price tag on their new homes is below $400,000, these lucky purchasers will no longer have to pay for a mandatory appraisal. But the other...This Week’s Paper: Digital Edition
