September 27, 2013
CFPB Tool Puts HMDA Data on Web
The Consumer Financial Protection Bureau has posted an online tool to make Home Mortgage Disclosure Act (HMDA) data available to consumers in an easy to use format. The Bureau notes that in 2012 there were approximately 18.7million HMDA records from … Continue reading
September 27, 2013 in CFPB | Permalink | No Comments
August 30, 2013
If QRM = QM, then FICO+CLTV > DTI ?@#?!?
The long awaited Proposed Rule that addresses the definition of Qualified Residential Mortgages has finally been released, with comments due by October 30th. The Proposed Rule’s preferred definition of a QRM is the same as a Qualified Mortgage. There is … Continue reading
August 30, 2013 in CFPB | Permalink | No Comments
August 22, 2013
Sloppy Servicers
I have blogged about the Alice In Wonderland-like and Dickensian situations faced by defaulting homeowners, but now the CFPB has offered a broader look at the problems that borrowers confront when facing foreclosure. The CFPB’s Supervisory Highlights Summer 2013 profiles … Continue reading
August 22, 2013 in CFPB | Permalink | No Comments
August 5, 2013
Not That I’m Complaining, But
Ian Ayres, Jeff Lingwall and Sonia Steinway have posted Skeletons in the Database: An Early Analysis of the CFPB’s Consumer Complaints on SSRN. It is interesting both for the details it documents, but also for what it represents. Details first: … Continue reading
August 5, 2013 in CFPB | Permalink | No Comments
July 31, 2013
Financial Literacy Literacy
Personally, I was disappointed by the CFPB’s Financial Literacy Annual Report. It seems to me that the Bureau’s Division of Consumer Education and Engagement is thinking too small in setting forth its research agenda. For its financial education evaluation project, … Continue reading
July 31, 2013 in CFPB | Permalink | No Comments
June 18, 2013
CFPB Complaints Vary by State, Unsurprisingly
The Baltimore Sun quoted me today in Marylanders Aren’t Shy About Complaining: New Federal Consumer Agency Finds State Residents Quick to Gripe About Mortgages, Credit Cards, Banks. The story opens, Marylanders are big complainers. At least when it comes to … Continue reading
June 18, 2013 in CFPB | Permalink | No Comments
June 4, 2013
Effect of Qualified Mortgages on Credit Availability: Little to None
The Congressional Research Service has issued a somewhat opaque report, The Ability-to-Repay Rule: Possible Effects of the Qualified Mortgage Definition on Credit Availability and Other Selected Issues, that summarizes the Ability-to-Repay Rule. More importantly, it offers a bit of an … Continue reading
June 4, 2013 in CFPB | Permalink | No Comments
