CFPB Uncovers Illegal Junk Fees on Bank Accounts, Mortgages, and Student and Auto Loans

CFPB Uncovers Illegal Junk Fees on Bank Accounts, Mortgages, and Student and Auto Loans

This Supervisory Highlights special edition covers unlawful junk fees in the areas of bank account deposits, auto loan servicing, mortgage loan
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US Mortgage Rates Increase for a Fourth-Straight Week – Bloomberg

The contract rate on a 30-year fixed mortgage rose 8 basis points to 6.79%, the group said Wednesday. The group's index of mortgage applications to
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High mortgage rates make million-dollar homes less common – Chicago Agent Magazine

As rising mortgage rates cool the market, the share of U.S. homes worth at least $1 million has fallen from an all-time high last year,
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Mortgage Rates Remain Elevated, But Bigger Volatility is Coming

When traders sell bonds, rates rise, all other things being equal. That means mortgage rates would quickly move to even higher levels if Friday's jobs
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Chinese bank earnings threatened by early mortgage payments – Nikkei Asia

HONG KONG — Chinese banks are facing a new earnings challenge as growing numbers of homebuyers pay off their mortgages ahead of schedule, t.
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Mortgage Applications Increase After Several Weeks of Decline – RISMedia

After four straight weeks of declines, mortgage applications increased 7.4% from one week earlier, according to the latest Weekly Mortgage
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There's a Silver Lining for Mortgage Companies in a Bleak Market – WSJ

Home-loan originators are facing a tough environment, but some players could be seeing better profitability on mortgages.
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Enact Mortgage Insurance Completes XOL Reinsurance – GlobeNewswire

RALEIGH, N.C., March 08, 2023 (GLOBE NEWSWIRE) — Enact Holdings, Inc. (Nasdaq: ACT) (Enact), a leading provider of private mortgage insurance
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Sugar Hill Stops Mortgage Payments on Rent-Stabilized Buildings – The Real Deal

The landlord stopped making mortgage payments on some of its Upper Manhattan properties, Gothamist reported. The firm is already facing foreclosure on
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San Diego crypto-focused bank Silvergate plans to shut down – Los Angeles Times

Silvergate Capital Corp. plans to wind down operations and liquidate its bank after the crypto industry's meltdown sapped the company's financial
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Dallas, Chicago-area lenders merge while facing a 'paralyzed' mortgage market

Dallas-based Town Square Mortgage has merged with a Chicago-area firm to better position both companies to weather the storm as the rapid rise in
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Mortgage demand recovers slightly, despite rising interest rates – CNBC

Total mortgage application volume rose 7.4% for the week, according to the Mortgage Bankers Association. Applications to refinance a home loan
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Is Permanently Living on a Cruise Ship Cheaper Than Your Mortgage? – Reader's Digest

One retired couple is leading this money-saving trend, but is it actually cheaper than paying off a mortgage?
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CFPB Identifies Four Mortgage 'Junk Fees' – | Florida Realtors

Excessive late fee amounts: Mortgage servicers charged the top late fee amount allowed by relevant state laws, even when homeowners' mortgage
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US Mortgage Rates Increase for a Fourth-Straight Week – Yahoo Finance

(Bloomberg) — US mortgage rates increased for a fourth week to the highest level since mid-November, according to the Mortgage Bankers
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Mortgage rates headed past 7% after Powell warns Congress on inflation – Inman

Futures markets are taking the Fed chair at his word that policymakers may have to hike rates faster and take them higher to combat inflation.
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Homeowner with €6000 on mortgage given repossession order, committee told

An Oireachtas committee was told non-banking entities own more than 56% of all domestic mortgages in arrears.
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HMBradley Partners with Thought Machine to Usher in the Future of Banking

HMBradley's partnerships with New York Community Bank and Thought Machine provide the ability to scale to meet consumer demand and offer more
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AI-powered tools can reshape banking but lenders need to be aware of the risks

The news: US banks have “some work to do” before they can embrace AI-powered tools like ChatGPT, according to Bank of America CEO Brian Moynihan.
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Swiss Bankers Charged With Overlooking Millions Tied to Putin's Friend

Prosecutors say a cellist with links to Vladimir Putin was allowed to move millions of Swiss francs into a bank with little oversight.
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