Richard Cordray - Articles

Mortgage Loans: New CFPB Rule Lets Lenders Make the Call on Who Can Afford Them

By Mandi Woodruff When it comes to placing blame on mortgage lenders, regulators or consumers for 2008's crippling housing crisis, it's fair to say each played a role. Yes, banks issued millions of mortgage loans that homebuyers couldn't afford, targeted minorities for subprime loans, and made the entire lending... Continue Reading »

New Mortgage Rules Unveiled by CFPB

Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out. The new mortgage rules being unveiled Thursday by the Consumer Financial Protection Bureau impose a range of obligations and restrictions on lenders, including bans on the risky... Continue Reading »

FTC and Consumer Protection Bureau Crack Down on Deceptive Mortgage Ads

By Kali Geldis The Consumer Financial Protection Bureau and the Federal Trade Commission are taking on deceptive mortgage advertising and marketing in the latest enforcement actions from the government agencies. Specifically, the two agencies worked together in a sweep of more than 800 mortgage ads to assess whether the... Continue Reading »

Consumer Bureau Targets Predatory Lending

By James O'Toole The federal government is considering a new set of rules on mortgage origination that it says would make the process simpler and more transparent for borrowers. The Consumer Financial Protection Bureau, created as part of the Dodd-Frank financial reform law, said Wednesday that the new rules will focus... Continue Reading »

Consumer Bureau Proposes Strict Rules for Mortgage Servicers

By Jennifer Liberto The Consumer Financial Protection Bureau announced Tuesday that it's considering new rules aimed at mortgage servicers to help protect consumers against "costly surprises." Continue Reading »

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