A recent ruling by a three-judge appeals court panel has affirmed the Consumer Financial Protection Bureau’s (CFPB) expansive authority to enforce the Equal Credit Opportunity Act (ECOA). This decision underscores the CFPB’s power to regulate the mortgage industry and promote fair lending practices. Despite this legal development, Townstone, a prominent player in the industry, remains steadfast in its commitment to navigating regulatory challenges and charting a way forward.
Key Points:
– The CFPB has been granted broad authority to enforce ECOA by an appeals court panel
– This decision reinforces the CFPB’s role in regulating the mortgage industry
– Townstone, a major industry player, will persevere in addressing regulatory hurdles and moving ahead with its business strategies.
You can read this full article at: https://www.housingwire.com/articles/cfpbs-authority-affirmed-in-appeal-against-townstone-financial/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
