REFinBlog

Editor: David Reiss
Brooklyn Law School

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August 3, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

The Third Circuit upholds class certification in case against PNC Bank NA, in which individuals are alleging the bank participated in an illegal home equity lending scheme. Residential Credit Solutions Inc., a mortgage servicing company, will pay $1.6 million in … Continue reading

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August 3, 2015 in CFPB | Permalink | No Comments

July 28, 2015

Optimizing Mortgage Availability

By David Reiss

The United States Government Accountability Office (GAO) has issued a report, Mortgage Reforms: Actions Needed to Help Assess Effects of New Regulations. The GAO did this study to predict the effects of the Qualified Mortgage (QM) and Qualified Residential Mortgage … Continue reading

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July 28, 2015 in CFPB | Permalink | No Comments

June 29, 2015

CFPB Mortgage Highlights

By David Reiss

The Consumer Financial Protection Bureau issued its most recent Supervisory Highlights. The CFPB is “committed to transparency in its supervisory program by sharing key findings in order to help industry limit risks to consumers and comply with Federal consumer financial law.” … Continue reading

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June 29, 2015 in CFPB | Permalink | No Comments

Monday’s Adjudication Roundup

By Shea Cunningham

Massachusetts’s federal court found that a unit of Deutsche Bank AG failed to vet some residential mortgage-backed securities, which mislead Massachusetts Mutual Life Insurance Co. US Bank filed an amended complaint claiming that Citigroup Global Markets Realty Corp. and CitiMortgage … Continue reading

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June 29, 2015 in CFPB | Permalink | No Comments

June 19, 2015

CFPB Roundup

By David Reiss

The Consumer Financial Protection Bureau released its Semi-Annual Report. From a news perspective, it is a snoozer — dog bites man — as it is really just a summary of what the Bureau has done (and already issued press releases … Continue reading

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June 19, 2015 in CFPB | Permalink | No Comments

June 17, 2015

The Quest for Consumer Comprehension

By David Reiss

Lauren Willis has posted The Consumer Financial Protection Bureau and the Quest for Consumer Comprehension to SSRN. it opens, Dodd-Frank tasked the Consumer Financial Protection Bureau with ensuring that “consumers … understand the costs, benefits, and risks associated with” financial products. … Continue reading

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June 17, 2015 in CFPB | Permalink | No Comments

June 15, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

The CFPB increased PHH Corp.’s penalty to $109 million from $6.4 million on appeal, while upholding an administrative judge’s ruling that the firm was involved in a mortgage insurance kickback scheme. A class of PHH borrowers have been granted cert … Continue reading

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June 15, 2015 in CFPB | Permalink | No Comments