Our Senior Mortgage Reporter, Georgia Kromrei, has been doing a bang-up job covering the federal beat, which includes the alphabet soup of agencies and regulators that make do-or-die decisions affecting the mortgage business.
Her latest reporting revealed that the CFPB is adding 20 to 30 enforcement attorneys as it ramps up fair lending and redlining enforcement. "Per the agency's latest report, it has a number of newly-opened and ongoing fair lending investigations of institutions. The CFPB also said it referred three cases of redlining to the Department of Justice for further investigation."
But will the bureau be content with just levying large fines? Kromrei digs in to the other means the CFPB has at its disposal to enforce federal fair lending provisions. Read the whole story here and check out the Q&A Georgia hosted last week on what else the industry should expect from the CFPB's new director, Rohit Chopra.
Both of those articles are part of our HW+ program so sign up for a membership here so you don't miss a thing the regulators are doing.
Until tomorrow —
Sarah Wheeler
HousingWire Editor in Chief
P.S. I've heard from a lot of tech companies who responded to yesterday's ed note to let me know what their companies launched or announced this week at MBA Annual. I'm wrapping those into larger coverage so be sure to let me know at swheeler@housingwire.com so I can include you!
The CFPB is hiring up to 30 additional enforcement attorneys as it ramps up its fair lending and redlining enforcement. The industry expects larger settlement sums and more litigation. HW+ Premium Content
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