AFR Statement on Re-Nomination of Richard Cordray
“The Senate now has a second chance to confirm this commendable nominee. It should.”
Tag Archives: CFPB
AFR in the News: CFPB Limits Dual-Track Foreclosures
“Mortgage servicers will face greater limits on their ability to foreclose on a borrower while simultaneously negotiating a loan modification under new rules issued by the U.S. Consumer Financial Protection Bureau,” Bloomberg’s Carter Dougherty reports. The new rules “go further” than the bureau’s first proposal
AFR Statement on CFPB Mortgage Servicer Rule
“[W]hile the final rule is an improvement over the proposed rule, it does not go far enough to ensure fair treatment of borrowers. We urge the CFPB to immediately consider improvements, both on its own and through the interagency guidance process.”
AFR in the News: No Get Out of Jail Free Card for Unaffordable Loans
AFR Executive Director Lisa Donner talks to NPR about the importance of holding mortgage lenders accountable for unaffordable loans.
AFR Statement on CFPB Mortgage Lending Rule
“[P]ortions of today’s rule should have been stronger, and the CFPB has put one very important question on the table for further comment, creating a risk of further slippage.”
AFR in the News: CFPB Readies New Mortgage Rules as Banks Seek More Time
The rules… are “likely to resemble” an October draft that “extended a legal safe harbor to loans issued at prime interest rates to borrowers whose total debt-to-income ratio doesn’t exceed 43 percent.”
AFR Memo on CFPB’s 2013 Mortgage Rules
With new rules for mortgage lending and servicing due to be issued soon, the Bureau faces an important opportunity to make the housing market work better for families and communities.
Military and Consumer Groups Seek Stronger Enforcement of Military Lending Act
Joint letter calls on Senate to approve Reed amendment giving enforcement authority to federal and state agencies.
AFR in the News: Responding to George Will’s Attack on the CFPB
“It was created… to protect families and the market from dangerous or explosive loans, the same way the Consumer Product Safety Commission protects against explosive toasters.”
Congressional Letter on Qualified Mortgages and Ability to Repay
In a letter to the Senate, 40 organizations ask the Senate to reject an amendment granting a legal safe harbor to all QM lenders.