News By Edition

Pennsylvania Attorney General Michelle Henry filed a complaint against a group of mortgage brokers and their manager alleging a kickback scheme that involved real estate agents, in violation of RESPA.

President Donald Trump’s second acting director of the Consumer Financial Protection Bureau (CFPB), newly confirmed director of the Office of Management and Budget Russ Vought, brought the bureau’s operations to a grinding halt. What does that mean for the future of the agency?

Former CFPB Senior Counsels Richard Horn and David Friend share their insight.  

Soon after new U.S. Treasury Secretary Scott Bessent was named acting director of the Consumer Financial Protection Bureau, he instructed bureau staff to halt all activity until it undergoes a comprehensive review. That included pausing legal proceedings in two fair lending cases.

Troy Garris, managing partner at Garris Horn, shared his insight into what that might mean for fair lending enforcement moving forward.

The American Real Estate Association (AREA), a trade organization founded as an alternative to the National Association of Realtors (NAR), launched a listing policy it has named Clear Collaboration. In September 2024, AREA launched a Change.org petition targeting NAR’s Clear Cooperation Policy.

The Federal Trade Commission and the Colorado attorney general filed a complaint against Greystar Real Estate Partners, LLC, the country’s largest multi-family rental property manager, alleging it deceived customers about rent prices by tacking hidden fees onto advertised prices.

According to media reports, the union president for the U.S. Department of Housing and Urban Development said the agency will cut 50 percent of its staffing. The move comes after President Donald Trump’s executive order directing federal agencies to “undertake plans for large-scale reductions in force.”

Optimal Blue’s January Market Advantage mortgage data report showed a sharp increase in refinance activity as well as a drop in purchase lock counts. The company’s director of data solutions attributed the results to the combination of high home prices and rates.

Senate Democrats including Sen. Elizabeth Warren and Sen. Ron Wyden are calling for an independent investigation into reports that the U.S. Treasury gave Elon Musk and his surrogates potentially illegal access to the federal government’s payment systems.

Former Federal Deposit Insurance Corp. Director Jonathan McKernan is the Trump administration’s third pick to run the Consumer Financial Protection Bureau (CFPB) since the firing of Rohit Chopra Feb. 1. The financial services industry and former CFPB attorneys are bullish about the nomination amid the agency’s tumultuous leadership shuffle and halt in operations.

The California wildfires have put the spotlight on the insurance sector, where rates have been rising for years. The managing director at InsureMAC discusses the impact of rising rates on borrowers, what happens when borrowers lose their homeowner’s insurance and what lenders need to keep in mind.

Four U.S. House representatives have relaunched the Bipartisan Congressional Real Estate Caucus for the 119th Congress. Several industry groups applauded the move.

The critical defect rate fell from the second to third quarter, according to a report from ACES Quality Management. However, a sharp rise in insurance defects makes for a more complicated quality control picture.

Mortgage credit availability increased in January, according to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index. If that trend continues, it signals a positive development for the spring homebuying season, according to the MBA.

The Consumer Financial Protection Bureau’s winter supervisory highlights, released Jan. 17, focused on balancing advanced technologies for the credit decisioning-process, like artificial intelligence and machine learning, with regulatory requirements.

The suspension of several Consumer Financial Protection Bureau (CFPB) pending legal cases could hold major implications for challenges to the agency’s rulemaking activities and attempts to redress harmed consumers. 

Two attorneys broke down the potential impact of former acting CFPB director U.S. Treasury Secretary Scott Bessent’s decision to withdraw the CFPB’s legal defense staff from these proceedings.

In the inaugural episode of October Research’s Keys to Real Estate podcast, titled “The Power of Humor in Business,” industry veteran Phil Schulman shared insights from his extensive career in the title industry while speaking with host and Chief Knowledge Officer Mary Schuster. 

Nearly 90 percent of metro markets saw single-family existing-home sales prices rise in the fourth quarter, up from 87 percent in the third quarter, according to a National Association of Realtors report.

New U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner’s first order was to halt enforcement of a 2016 HUD rule that ensured equal access for individuals in accordance with their gender identity in programs and shelters funded under programs administered by HUD.

A recent report revealed real estate buyer agent commissions in the fourth quarter basically held steady from the third quarter, when the new National Association of Realtors (NAR) commission rules went into effect. Still, three in four agents are concerned they will see their commissions decline.

Scott Turner was confirmed as the new secretary of the U.S. Department of Housing and Urban Development by a 55-44 party-line Senate vote. Industry groups reacted to the news of President Donald Trump’s new cabinet member.

A group of New York state legislators introduced a bill that would protect federal fair housing rules by adding housing discrimination enforcement provisions into state law. It would incorporate the “disparate impact” standard into state law.

The delinquency rate for residential mortgage loans in the fourth quarter increased both from the third quarter and from a year ago, according to the Mortgage Bankers Association’s National Delinquency Survey. The composition of those delinquencies also changed.

In a highly anticipated move, President Donald Trump fired Rohit Chopra from his post as director of the Consumer Financial Protection Bureau on Feb. 1. Trump then named newly confirmed U.S. Treasury Secretary Scott Bessant as the bureau’s acting director.

For the second time in eight years, the financial sector will witness the Consumer Financial Protection Bureau undergo a change in leadership at the hands of President Donald Trump – provided somebody wants the job.

Industry insiders share their take on what challenges the administration could be facing in finding a permanent leader for the bureau and where doing so likely ranks on its priority list.

After her home entered foreclosure, a homeowner filed a complaint asserting a range of claims against her mortgage servicer, alleging violations of RESPA, Regulation X and the Fair Debt Collection Practices Act. The servicer filed a motion to dismiss.

A recent Federal Housing Administration Title I Letter details the adoption of the Uniform Residential Loan Application form for Title I loan programs, which will replace two other forms. The change is meant to simplify the Title I loan application process.

Pending home sales fell in December 2024 following four consecutive months of increases, according to the National Association of Realtors. The most significant month-over-month decrease in transactions occurred in the West, and the largest year-over-year loss was in the Midwest.

U.S. Sen. Ted Cruz introduced the “Defund the CFPB Act,” legislation that would reduce the Consumer Financial Protection Bureau’s statutory funding cap from the Federal Reserve to $0, effectively eliminating the agency by cutting off its funding. Rep. Keith Self introduced companion legislation in the U.S. House.

Two former Consumer Financial Protection Bureau attorneys share their thoughts about the implications of President Donald Trump’s executive order implementing a regulatory freeze. The president directed federal agencies to halt the issuance of new regulations pending review and approval by newly installed department heads. 

As more homeowners opt to use a cash-out refinance mortgage to tap into their home equity, the Consumer Financial Protection Bureau took a look into the spending habits of such borrowers over a seven-year span. The bureau report also analyzed how credit card utilization and credit scores changed before and after the refi.

President Donald Trump’s pick to run the U.S. Treasury Department received Senate approval via a 68-29 vote on Jan. 27. Mortgage industry advocates said they are committed to working with the new treasury secretary on ending the conservatorships of the government-sponsored enterprises.

October Research welcomed Mortgage Bankers Association Chief Economist Michael Fratantoni to kick off the 2025 Economic Outlook webinar series.

House price growth both nationally and regionally showed signs of slowing in November, according to the Federal Housing Finance Agency (FHFA) House Price Index. The FHFA attributed the slowdown in price growth to higher mortgage rates.

The national non-profit watchdog group Housing Rights Initiative said it filed the largest housing discrimination case in Illinois history against 165 real estate agents, brokerages and landlords, accusing them of discriminating against low-income families using Section 8 vouchers.

Only 60 percent of homeowners with escrow accounts fully comprehend their function, according to a survey from LERETA, a provider of real estate tax and flood services for mortgage servicers. Even among those who do understand escrow accounts, there are still misconceptions as to how they operate and impact monthly mortgage payments.

The Federal Housing Administration’s revisions to its loss mitigation “waterfall” include updates to tools for mortgage servicers helping borrowers who fall behind on their mortgage payments.

Existing-home sales rose 2.2 percent in December to a seasonally adjusted annual rate of 4.24 million, the strongest pace since February 2024, according to the National Association of Realtors.

The Senate Banking Committee voted 13-11 to advance Scott Turner’s nomination to become the new secretary of the Department of Housing and Urban Development in a party-line vote. Mortgage Bankers Association President and CEO Bob Broeksmit suggested a way the Trump administration could lower housing costs for low- to moderate-income Americans.