Key Takeaways
- CFPB enforcement focuses on RESPA violations, fair lending, servicing failures, and TRID compliance.
- Marketing services agreements have attracted significant CFPB scrutiny as potential disguised referral fees.
- Climate risk, AI discrimination, and nonbank servicer regulation are emerging regulatory priorities.
- The regulatory environment is trending toward increased oversight of technology-driven lending practices.
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Test Your Knowledge
1.What enforcement tool does the CFPB primarily use against mortgage lenders and servicers?
2.Which emerging regulation addresses how lenders assess climate-related risks in mortgage lending?
3.What is the typical CFPB enforcement action amount for major fair lending violations?