Housing discrimination complaints were close to their two-decade high in 2024, alarming advocates concerned about a pull-back in enforcement, the National Fair Housing Alliance said. Its 2025 Fair Housing Trends Report found 32,321 discrimination complaints were filed in the prior year. While this was lower than the 34,150 complaints received for 2023, it is still […]
Fair housing complaints stay near historic peak in 2024 Read More »
Newrez subsidiary Shellpoint Servicing finds itself at the center of another class action lawsuit surrounding the attempted collection of a second “zombie” mortgage originated prior to the Great Financial Crisis. In documents filed in a Virginia federal court in late October, attorneys for former homeowner and plaintiff Mariel Castellon claimed the company made attempts this
Newrez faces another zombie-seconds class action filing Read More »
Key insight: Gould argued the OCC can only ensure fair oversight by admitting qualified fintechs and crypto firms through national trust charters, saying regulation outside the perimeter is impossible. Supporting data: He acknowledged concerns over fairness as the OCC reviews trust charters like Coinbase’s and said Dodd-Frank narrowed the “scope of banking relevance,” driving innovation
Gould backs charters to bring nonbanks into regulatory fold Read More »
The inspector general of the Federal Housing Finance Agency has reportedly been ousted, leaving vacant a key internal overseer. Acting IG Joe Allen is being removed from his role, Reuters reported Monday afternoon, citing four unnamed sources. Allen, the Office of Inspector General’s chief counsel and a longtime Department of Justice employee, replaced former Biden
FHFA’s internal watchdog reportedly ousted Read More »
Brian Vieaux wants every mortgage player to understand the power and potential of MISMO. The new president of the Mortgage Industry Standards Maintenance Organization is a 35-year veteran of home lending, and is excited to give back to the industry by bringing together various stakeholders to implement standards. That includes big issues such as the
How MISMO plans to shape mortgage tech and AI Read More »
Mortgage industry trade groups quickly expressed support for the Trump administration’s elimination of two nonbank registry rules, including a reporting requirement that first went into effect last year. Leaders welcomed the decision, citing the additional headaches it presented to mortgage lenders with little to no benefit in return. “Rescinding these two requirements just makes sense,”
Mortgage groups praise rollbacks of CFPB nonbank rules Read More »
A coalition of lenders, servicers and lienholders are challenging a new state law on zombie seconds, arguing it will increase the cost of financing and limit homeowners’ access to equity. The California Mortgage Association and 11 other plaintiffs sued California Attorney General Rob Bonta in September, asking a federal judge to halt enforcement of the
Mortgage groups sue California over zombie seconds law Read More »
Key insight: Inflation cooled slightly but continued upward in September, climbing 0.3% after August’s 0.4% gain. Supporting data: Prices rose 3.0% year over year, tracking with the increase in core CPI. Gasoline jumped 4.1%, while shelter rose 0.2%, its smallest gain since early 2021. Forward look: The results reinforce expectations that the Fed will proceed
Inflation up modestly in September; Fed on track for cut Read More »
Andrew Harrer/Bloomberg Key Insight: The Federal Reserve’s proposal would release the central bank’s back-end stress testing models, and is out for public comment through Jan. 22, 2026. Expert Quote: “The Board’s stress testing program has operated with limited transparency, unreasonable year-over-year volatility, and the absence of any meaningful appeals process.” — Fed Vice Chair for
Fed proposal would publish full stress test models Read More »
Key insight: The Department of Justice filed a motion opposing a Consumer Financial Protection Bureau employee union’s appeal of a DC Circuit ruling allowing the administration to fire hundreds of agency workers. What’s at stake: The CFPB employee union has been arguing that the administration is seeking to shut down the agency, something that only
DOJ opposes CFPB union’s request for rehearing on firings Read More »