News & Analysis as of

Mortgage Lenders Statutory Violations Enforcement Actions

Sheppard Mullin Richter & Hampton LLP

CFPB Files $3.95M Proposed Order to Settle HMDA Lawsuit Against Florida-Based Mortgage Company

On June 18, the CFPB filed a proposed final judgment that would require a Florida-based nonbank mortgage originator and servicer to pay a $3.95 million civil money penalty and implement corrective actions requiring the...more

Ballard Spahr LLP

CFPB and DOJ file lawsuit against land developer alleging predatory lending

Ballard Spahr LLP on

The CFPB and Justice Department filed a joint complaint last week in a Texas federal district court against Colony Ridge Development, LLC and three related entities (collectively, “Colony Ridge”) in which the agencies allege...more

Thomas Fox - Compliance Evangelist

Bank of America Enforcement Action and Using Data Analytics

Data analytics has become an essential tool in the field of compliance and risk management. It allows compliance officers to assess the effectiveness of their programs and identify potential risks before they escalate into...more

Hogan Lovells

Mortgage lender fined for alleged HMDA violations

Hogan Lovells on

On 5 June 2019 the Consumer Financial Protection Bureau (CFPB) announced its consent order (consent order) with a large mortgage lender (the company) for allegedly reporting erroneous sex, race, and ethnicity Home Mortgage...more

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