The Consumer Financial Protection Bureau said Monday (Feb. 27) that it has permanently banned a California mortgage broker from the industry, citing years of abuse and fraudulent government representation to military families. The CFPB’s announcement of its lifetime ban of RMK Financial’s Majestic Home Loans...
Of the scores of innovations and updates to consumer lending seen and written about over the last decade or so, speed is always offered as a central value proposition. Instead of spending days and weeks gathering paperwork, submitting materials and waiting around for a decision, consumers and businesses...
According to the latest Q3 2018 TransUnion’s Industry Insights Report the back half of 2018 has been a good year for sub-prime borrowers looking for access to credit. In the year between Q2 2017 and Q2 2018, sub-prime consumer loan originations grew 28 percent between Q2 2017 and Q2 2018 across the...
Moody’s said in its latest reading of the “pulse of the consumer” that in viewing the charge-off rate, growth had slowed among the largest U.S. banks to 10 basis points in the third quarter. That was better than the 18-basis-point increase seen year over year...
December 17, 2024
New York’s financial watchdog has proposed new measures governing nonbank mortgage lenders. The New York State Department of Financial Services (DFS) says this new regulation would ensure these lenders are supporting access to home loans in the communities they serve, especially in neighborhoods with low- and moderate-income residents. “Everyone deserves a fair shot at owning a home, regardless of […]
February 27, 2023
The Consumer Financial Protection Bureau said Monday (Feb. 27) that it has permanently banned a California mortgage broker from the industry, citing years of abuse and fraudulent government representation to...
October 25, 2018
Moody’s said in its latest reading of the “pulse of the consumer” that in viewing the charge-off rate, growth had slowed among the largest U.S. banks to 10 basis points...
August 02, 2018
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans that the lender processed before the last recession....
