CFPB director open to changing mortgage regs to fix refi process

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. And Rohit Chopra, the hard-charging director of the Consumer Financial Protection Bureau, who is often the target of such co

Guild’s Jim Cory on the company’s ambitious reverse mortgage rebrand

Last week, Guild Mortgage announced a suite of products under the name “Flex Payment Mortgage.” The brand includes Home Equity Conversion Mortgage (HECM) reverse mortgage products alongside refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. After acquiring the robust reverse mo

Better rolls out FHA streamline refi product

Better Home & Finance Holding Co., the parent of digital lender Better.com, rolled out its Federal Housing Administration (FHA) streamline refinance program on Monday. The product is available for qualified borrowers with an existing FHA loan who are looking to lower their monthly mortgage payment,

CHLA urges ‘balancing’ of consumer, servicer needs in loss-mitigation proposal

The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to balance the time frame and processes of loss mitigation in its revisions to Regulation X proposed in July. The proposals require mortga