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DOJ, CFPB announce $24M redlining settlement with Trident Mortgage

DOJ, CFPB announce $24M redlining settlement with Trident Mortgage

The Department of Justice and the CFPB are taking the fight to non-bank mortgage lenders for redlining. They reached a $24.4M settlement agreement with Trident Mortgage, a subsidiary of Berkshire Hathaway.

The post DOJ, CFPB announce $24M redlining settlement with Trident Mortgage appeared first on HousingWire.

DOJ, CFPB announce $24M redlining settlement with Trident Mortgage
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DOJ, CFPB announce $24M redlining settlement with Trident Mortgage
DOJ, CFPB announce $24M redlining settlement with Trident Mortgage
DOJ, CFPB announce $24M redlining settlement with Trident Mortgage
DOJ, CFPB announce $24M redlining settlement with Trident Mortgage
housingwire housingwire | 1 year ago
The Department of Justice and the CFPB are taking the fight to non-bank mortgage lenders for redlining. They reached a $24.4M settlement agreement with Trident Mortgage, a subsidiary of Berkshire Hathaway. The post DOJ, CFPB announce $24M redlining settlement with Trident Mortgage appeared first on HousingWire.
The Department of Justice and the CFPB are taking the fight to non-bank mortgage lenders for redlining. They reached a $24.4M settlement agreement with Trident Mortgage, a subsidiary of Berkshire Hathaway. The post DOJ, CFPB announce $24M redlining settlement with Trident Mortgage appeared first on HousingWire.
Trident Mortgage slapped with $24.4 million redlining fine
Trident Mortgage slapped with $24.4 million redlining fine
Trident Mortgage slapped with $24.4 million redlining fine
Trident Mortgage slapped with $24.4 million redlining fine
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
Trident Mortgage, a now-defunct lender owned by Berkshire Hathaway, has agreed to pay $24.4 million for engaging in redlining and discriminating against minorities in the greater Philadelphia metro area, federal and state regulators said Wednesday.ย The Justice Department, Consumer Financial Protection Bureau and three state attorneys general announced at a news conference that Trident discouraged prospective minority applicants from applying for home loans in Philadelphia, Camden, New Jersey, ...
Trident Mortgage, a now-defunct lender owned by Berkshire Hathaway, has agreed to pay $24.4 million for engaging in redlining and discriminating against minorities in the greater Philadelphia metro area, federal and state regulators said Wednesday.ย The Justice Department, Consumer Financial Protection Bureau and three state attorneys general announced at a news conference that Trident discouraged prospective minority applicants from applying for home loans in Philadelphia, Camden, New Jersey, ...
Another lender settles redlining accusations with DOJ
Another lender settles redlining accusations with DOJ
Another lender settles redlining accusations with DOJ
Another lender settles redlining accusations with DOJ
housingwire housingwire | 1 year ago
The complaint filed in federal court alleges that from at least 2015 to 2021, Lakeland Bank failed to provide mortgage lending services to Black and Hispanic neighborhoods in and around Newark, NJ. The post Another lender settles redlining accusations with DOJ appeared first on HousingWire.
The complaint filed in federal court alleges that from at least 2015 to 2021, Lakeland Bank failed to provide mortgage lending services to Black and Hispanic neighborhoods in and around Newark, NJ. The post Another lender settles redlining accusations with DOJ appeared first on HousingWire.
Q&A with CFPB Director Rohit Chopra
Q&A with CFPB Director Rohit Chopra
Q&A with CFPB Director Rohit Chopra
Q&A with CFPB Director Rohit Chopra
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
What follows is a lightly edited transcript of the interview:Iโ€™d like to start with overdraft fees. What illegal practices are you seeing in the marketplace with respect to overdraft fees, and what do you think the industry should be doing on its own?ROHIT CHOPRA: We are actually quite gratified to see where the market has been shifting. You're now starting to see institutions, especially large ones, starting to compete and change their programs.ย The CFPB over the years has done a number of ...
What follows is a lightly edited transcript of the interview:Iโ€™d like to start with overdraft fees. What illegal practices are you seeing in the marketplace with respect to overdraft fees, and what do you think the industry should be doing on its own?ROHIT CHOPRA: We are actually quite gratified to see where the market has been shifting. You're now starting to see institutions, especially large ones, starting to compete and change their programs.ย The CFPB over the years has done a number of ...
FHFA language disclosure rule stokes fears of legal blowback
FHFA language disclosure rule stokes fears of legal blowback
FHFA language disclosure rule stokes fears of legal blowback
FHFA language disclosure rule stokes fears of legal blowback
housingwire housingwire | 1 year ago
Sandra Thompson's latest move as acting FHFA chair? Having lenders disclose the language preference of their borrowers. The post FHFA language disclosure rule stokes fears of legal blowback appeared first on HousingWire.
Sandra Thompson's latest move as acting FHFA chair? Having lenders disclose the language preference of their borrowers. The post FHFA language disclosure rule stokes fears of legal blowback appeared first on HousingWire.
Fannie Mae to accept lender-funded down payment assistance
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Fannie Mae will now buy mortgage loans with lender-funded grants, including down payment assistance, closing costs or financial reserves. The post Fannie Mae to accept lender-funded down payment assistance appeared first on HousingWire.
CFPB sues TransUnion for duping consumers with โ€œdark patternsโ€
CFPB sues TransUnion for duping consumers with โ€œdark patternsโ€
CFPB sues TransUnion for duping consumers with โ€œdark patternsโ€
CFPB sues TransUnion for duping consumers with โ€œdark patternsโ€
housingwire housingwire | 2 years ago
The CFPB sued TransUnion and a company executive for allegedly duping consumers seeking a free credit report into signing up for costly credit monitoring. The post CFPB sues TransUnion for duping consumers with โ€œdark patternsโ€ appeared first on HousingWire.
The CFPB sued TransUnion and a company executive for allegedly duping consumers seeking a free credit report into signing up for costly credit monitoring. The post CFPB sues TransUnion for duping consumers with โ€œdark patternsโ€ appeared first on HousingWire.
CFPB creates oversight office to deal with congressional requests
CFPB creates oversight office to deal with congressional requests
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CFPB creates oversight office to deal with congressional requests
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
An onslaught of inquiries expected from Republican lawmakers next year has prompted Consumer Financial Protection Bureau Director Rohit Chopra to create a new office devoted solely to responding to congressional probes.ย In an internal memo to staff on Tuesday, Deputy CFPB Director Zixta Q. Martinez announced a ramping-up of hiring for the bureauโ€™s newly created Office of Oversight and a separate strategy team and a realignment of the bureauโ€™s legal and student loan offices.ย  Joshua Rob...
An onslaught of inquiries expected from Republican lawmakers next year has prompted Consumer Financial Protection Bureau Director Rohit Chopra to create a new office devoted solely to responding to congressional probes.ย In an internal memo to staff on Tuesday, Deputy CFPB Director Zixta Q. Martinez announced a ramping-up of hiring for the bureauโ€™s newly created Office of Oversight and a separate strategy team and a realignment of the bureauโ€™s legal and student loan offices.ย  Joshua Rob...
Republican lawmakers accuse CFPB of 'collusion' with state AGs
Republican lawmakers accuse CFPB of 'collusion' with state AGs
Republican lawmakers accuse CFPB of 'collusion' with state AGs
Republican lawmakers accuse CFPB of 'collusion' with state AGs
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
Three Republican lawmakers accused the director of the Consumer Financial Protection Bureau of โ€œcollusionโ€ and โ€œconspiring with state attorneys generalโ€ to bring enforcement actions against financial companies.The allegations in a letter signed Julyย  28 by Rep. Patrick McHenry of North Carolina, the ranking member of the House Financial Services Committee, and two other Republican lawmakers was in response to an interpretive rule that the CFPB issued in May.In the rule, the CFPB affirm...
Three Republican lawmakers accused the director of the Consumer Financial Protection Bureau of โ€œcollusionโ€ and โ€œconspiring with state attorneys generalโ€ to bring enforcement actions against financial companies.The allegations in a letter signed Julyย  28 by Rep. Patrick McHenry of North Carolina, the ranking member of the House Financial Services Committee, and two other Republican lawmakers was in response to an interpretive rule that the CFPB issued in May.In the rule, the CFPB affirm...
MBAโ€™s Broeksmit takes aim at CFPB
MBAโ€™s Broeksmit takes aim at CFPB
MBAโ€™s Broeksmit takes aim at CFPB
MBAโ€™s Broeksmit takes aim at CFPB
housingwire housingwire | 1 year ago
America is in a "full damage control mode" while the Federal Reserve attempts to control inflation, inflicting the mortgage industry with difficult days โ€“ and that's when "bad policies have a habit of rearing their ugly head," MBA president and CEO Bob Broeksmit said. The post MBAโ€™s Broeksmit takes aim at CFPB appeared first on HousingWire.
America is in a "full damage control mode" while the Federal Reserve attempts to control inflation, inflicting the mortgage industry with difficult days โ€“ and that's when "bad policies have a habit of rearing their ugly head," MBA president and CEO Bob Broeksmit said. The post MBAโ€™s Broeksmit takes aim at CFPB appeared first on HousingWire.