Just a few months after the Consumer Financial Protection Bureau (CFPB) launched its “Owning a Home” mortgage rate-checker tool on its website, Bankrate, Inc. recently disclosed in a filing with the Securities Exchange Commission that the CFPB is investigating Bankrate regarding its online-based mortgage rate comparison tool.
Citing an “administrative error,” the Consumer Financial Protection Bureau potentially broke its stalwart stance regarding the TILA-RESPA Integrated Disclosure (TRID) rule late in the day Wednesday, when it announced that it is issuing a proposed rule to push back the Aug. 1 implementation date. See what industry insiders and one member of Congress have to say here.
The Consumer Financial Protection Bureau (CFPB) recently released its Summer 2015 Supervisory Highlights, in which the bureau reports on examination findings in the areas of mortgage origination, fair lending, mortgage servicing, deposits, payday lending and debt collection. According to CFPB Director Richard Cordray, the results were not promising.
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