News & Analysis as of April 28, 2025

Consumer Financial Products

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Legislation to prohibit ‘trigger leads’ in mortgage industry reintroduced in House, Senate

Ballard Spahr LLP on 4/16/2025

Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate....more

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 2

Troutman Pepper Locke on 4/8/2025

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Weekly Consumer Financial Services Newsletter- October 2024 # 4

Troutman Pepper Locke on 10/23/2024

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Revised Trigger Leads Bill Introduced in U.S. House of Representatives

Ballard Spahr LLP on 2/22/2024

As previously reported, in 2023 bills were introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with...more

Bills To Curtail Trigger Leads Introduced in Congress

Ballard Spahr LLP on 12/20/2023

Bills have been introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans....more

New York legislature moves to impose new requirements on reverse mortgage industry

Hogan Lovells on 6/27/2019

Originators and servicers of HECMs who do business in New York should take action now to prepare to comply with the new bill’s requirements. Ensuring compliance may require a thorough review of commercial advertisements and...more

Bipartisan Bill Introduced to Expand Mortgage Access to the Self-Employed

Ballard Spahr LLP on 9/14/2018

U.S. Senators Mark R. Warner (D-VA) and Mike Rounds (R-SD) introduced federal legislation on August 28, 2018, that would expand access to mortgages to the self-employed, gig workers, and other creditworthy individuals with...more

S.2155 Does Not Facilitate Discriminatory Lending

Ballard Spahr LLP on 3/19/2018

In a blog post entitled “How S.2155 (the Bank Lobbyist Act) Facilitates Discriminatory Lending” Professor Adam Levitin claimed that “This bill functionally exempts 85% of US banks and credit unions from fair lending laws in...more

House Passes Bill to Amend TRID Rule Disclosures

Ballard Spahr LLP on 2/16/2018

On February 14, 2018, the United States House of Representatives passed the TRID Improvement Act of 2017, H.R. 3978, by a vote of 245 to 171. The bill would amend the manner in which title insurance premiums are disclosed...more

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