CFPB and DOJ Sue Predatory Mortgage Lender for Reverse Redlining, Exploiting Consumers With Limited English Proficiency
DOJ and CFPB jointly sue Colony Ridge for operating an illegal land sales scheme that targeted low-income Hispanic consumers.
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DOJ and CFPB jointly sue Colony Ridge for operating an illegal land sales scheme that targeted low-income Hispanic consumers.
Sarah B. Mancini will join hybrid hearing on “rent-to-own” home financing arrangements that exploit vulnerable homebuyers The hearing is scheduled to begin at 2:30 p.m. ET on Tuesday, July 11, 2023. Livestream. Full Testimony (available after the hearing) WASHINGTON – Today, Sarah Bolling Mancini, co-director of advocacy at the National Consumer Law Center, will testify…
NCLC Advocates Praise New Requirement for Use of Supplemental Consumer Information Form WASHINGTON – Today, the U.S. Department of Housing and Urban Development’s Federal Housing Administration (FHA) announced that it will require lenders making FHA-insured mortgage loans to use the Fannie Mae/ Freddie Mac Supplementary Consumer Information Form (SCIF) to collect a mortgage applicant’s language…
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WASHINGTON – The Federal Housing Finance Agency’s (FHFA) proposed rule to codify several existing measures to ensure a fair and accessible housing finance system will require housing giants Fannie Mae and Freddie Mac (the Enterprises) to collect and report information about mortgage applicants’ language preference, according to Americans for Financial Reform Language Access Task Force…
Government-Sponsored Enterprises (GSEs) Undercut Goals of Expanding Homeownership Through Bulk Sales of Homes to Investors WASHINGTON – Today, the National Consumer Law Center released a report examining how Fannie Mae’s and Freddie Mac’s bulk sale of 700,000 home loans to private investors has undercut their goals of supporting and expanding homeownership. Fannie Mae and Freddie…
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New Model Will Improve Accuracy and Reduce Impact of Paid Collection Items and Medical Debt
Read More about Updated Credit Scoring Models Will Benefit Borrowers