CFPB: Agency Warns Against Deception in Contract Fine Print
Companies using illegal or unenforceable terms and conditions risk breaking the law The Consumer Financial Protection Bureau (CFPB) today issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. Companies use this fine print tactic to try to trick consumers into believing they have given…
HUD: Disaster Assistance Announced for Nebraska Survivors
The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of Nebraska and ordered Federal assistance to State, tribal, and local recovery efforts in the areas affected by severe winter storms, and straight-line winds from April 6 to April 7, 2024. President Biden issued a major disaster declaration…
HUD: Disaster Assistance Announced for Maine Survivors
The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of Maine and ordered Federal assistance to State, tribal, and local recovery efforts in the areas affected by severe winter storms, from April 3 to April 5, 2024. President Biden issued a major disaster declaration in counties of…
CFPB: Inquiry Launched into Junk Fees in Mortgage Closing Costs
Rising fees are draining down payments, pushing homeownership out of reach The Consumer Financial Protection Bureau (CFPB) today launched a public inquiry into junk fees that are increasing mortgage closing costs. The CFPB wants to understand why closing costs are increasing, who is benefiting, and how costs for borrowers and lenders could be lowered. According to a CFPB…
FHFA: Enhancements Announced to Flex Modification for Borrowers Facing Financial Hardship
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will enhance their Flex Modification policies to allow more borrowers facing longer-term hardships to achieve meaningful payment reductions. The updated Flex Modification policies will promote sustainable homeownership and the safety and soundness of the Enterprises. “The Enterprises have completed over half a million modifications through their Flex Modification offerings since…
HUD: Disaster Assistance Announced for West Virginia Survivors
The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of West Virginia and ordered Federal assistance to State, tribal, and local recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes, flooding, landslides, and mudslides from April 2 to April 6, 2024. President…
HUD: Disaster Assistance Announced for Iowa Survivors
The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for the state of Iowa and ordered Federal assistance to State, tribal, and local recovery efforts in the areas affected by severe storms and tornadoes from April 26 to April 27, 2024. President Biden issued a major disaster declaration in the…
HUD: Additional Relief Extended to Borrowers in Maui, HI
Federal Housing Administration to extend foreclosure moratorium through August 4, 2024, to help homeowners impacted by 2023 wildfires. Today, the U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), announced it is extending its foreclosure moratorium for borrowers with FHA-insured mortgages in Maui County, HI, through August 4, 2024. FHA is taking…
HUD: Disaster Assistance Announced for Oklahoma Survivors
The U.S. Department of Housing and Urban Development (HUD) announced the implementation of federal disaster assistance for Oklahoma and ordered Federal assistance to State, tribal, and local recovery efforts in the areas affected by severe storms, straight-line winds, tornadoes, and flooding beginning on April 25, 2024, and continuing. President Biden issued a major disaster declaration in the counties…
HUD: Fair Housing Guidance Issued on Applications of Artificial Intelligence
Department recommends best practices to prevent discriminatory uses of artificial intelligence in tenant screening and advertising of housing and housing-related services Today, the U.S. Department of Housing and Urban Development (HUD) released two guidance documents addressing the application of the Fair Housing Act to two areas in which the use of artificial intelligence poses particular…