The Consumer Financial Protection Bureau released its annual report on residential mortgage lending activity and trends for 2021. The report is based on data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act.
This latest report found a shift from refinance loans in 2020 to home purchase loans in 2021, with a greater share of home purchase loans going to Asian, Black, and Hispanic white borrowers relative to the share of home purchase loans for non-Hispanic white borrowers.
Read on to learn more.
The Consumer Financial Protection Bureau published a report it said offers insights on the Buy Now, Pay Later industry.
The report, Buy Now, Pay Later: Market trends and consumer impacts, found that industry has grown rapidly since the pandemic, but borrowers may receive uneven disclosures and protections.
Read on for more details.
Additionally, the report said declining volumes have helped stabilize lender processes, keeping defects at bay, but signs are starting to emerge that the credit box is widening in the hunt for volume.
In a letter to the Consumer Financial Protection Bureau, the Republican members of the Senate Banking Committee accused the agency of pursuing a radical and highly politicized agenda which ignores statutory limits.
The bureau's recent focus on banks and overdraft fees drew the ire of the Republicans.
The Consumer Financial Protection Bureau (CFPB) issued the first in a series of reports focusing on the finances of consumers living in rural areas.
The bureau’s first report focuses on rural Appalachians, which it said tend to earn less than consumers in other rural areas and have higher rates of subprime credit.
New York settled a housing discrimination complaint that alleged three Long Island real estate brokerages steered prospective homebuyers of color away from white neighborhoods and subjected them to different requirements than white homebuyers.
The state Office of the Attorney General and the Department of State opened their investigation into Keller Williams Greater Nassau, Keller Williams Realty Elite and Laffey Real Estate after an investigative report by Newsday.
U.S. house prices rose 17.7 percent from the second quarter of 2021 to the second quarter of 2022, according to the Federal Housing Finance Agency House Price Index.
Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.
MISMO said the iLAD 2.2.0 dataset has achieved “Candidate Recommendation” status, which means it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
An analysis by LendingTree found the purchase mortgage denial rate for Black homebuyers in each of the nation's 50 largest metropolitan areas was twice as high as non-Blacks.
LendingTree said the disparities were even wider in cities like Boston and Jacksonville, Fla.
Pending home sales declined for the second consecutive month in July, and for the eighth time in the last nine months, according to the National Association of Realtors (NAR).
NAR said three out of four major regions registered month-over-month decreases (The West had an increase in pending home sales).
Read on for more details from the report.
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