In the wake of the subprime mortgage debacle and ensuing financial crisis, Congress enacted substantial reforms affecting the home mortgage industry as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). Pursuant to Dodd-Frank, the Consumer Financial Protection Bureau (“CFBP”) issued extensive new rules with the express intention of protecting … [Read more...] about Readers, please share your encounters with the Dodd-Frank home mortgage regulations
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Cities hurt by “predatory” lending practices may sue banks under the Fair Housing Act, Supreme Court rules
A few years back, I posted an article in this blog about the efforts of the City of Richmond, California, to pursue a novel “eminent domain” remedy in dealing with the aftershocks of the subprime mortgage crisis on real estate and the economy there. While it has been nearly a decade since that debacle, many areas still struggle in its aftermath, and a number of jurisdictions … [Read more...] about Cities hurt by “predatory” lending practices may sue banks under the Fair Housing Act, Supreme Court rules
New consumer mortgage disclosure rules come up short for loan products
Loan Products that banks choose to offer In November 2013, pursuant to the Dodd-Frank reforms passed by Congress in the wake of the financial crisis, the Consumer Financial Protection Bureau (“CFPB”) adopted regulations integrating the disclosure mandates of the Real Estate Settlement Procedures Act (“RESPA”) and the Truth in Lending Act (“TILA”). The new integrated … [Read more...] about New consumer mortgage disclosure rules come up short for loan products