Housing Wire
AUGUST 28, 2023
Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported. The CDFI certification is a designation given by the U.S.
Housing Wire
MARCH 31, 2023
The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.
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Housing Wire
AUGUST 1, 2023
Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace , a digital mortgage servicing platform. Founded in 2018 , Stavvy works to increase efficiency and transparency in real estate and mortgage lending. Terms of the deal were not announced.
Housing Wire
JUNE 2, 2023
District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S. It is simply the right thing to do.”
Housing Wire
OCTOBER 20, 2022
The panel found that the “design of the CFPB violated the Constitution because it receives funding through the Federal Reserve, rather than appropriations legislation passed by Congress,” reads a story on the decision by Politico.
Housing Wire
FEBRUARY 27, 2023
The lawsuit was originally filed by payday lending industry trade groups as a challenge to a 2017 small-dollar lending rule that barred lenders from making additional attempts to collect money for loan payments from borrowers’ bank accounts following a maximum of two unsuccessful attempts to withdraw the funds owed.
Housing Wire
SEPTEMBER 28, 2020
We have already seen an increase in predatory financial lending and scams as the most vulnerable in our state try to weather the economic downturn induced by the COVID-19 pandemic,” said Manuel Alvarez, DBO commissioner.
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