The legislation, a similar version of which passed in the last Congress, would give favorable regulatory treatment to certain loans even if real estate-related fees were paid to an affiliate of the lender.
Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring.
The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.
Alternative data can be beneficial for individuals locked out of the financial system’s more conventional data types, but such data is open to manipulation or biased interpretation.
Equifax continues work to add new security features and restore full access to The Work Number following a report highlighting potential security vulnerabilities in a browser-based portal of its employment verification service.
A Consumer Financial Protection Bureau proposal would limit how much Home Mortgage Disclosure Act data is released to the public in an effort to protect consumer privacy.
