Michael S. Waldron

Michael S. Waldron

Ballard Spahr LLP

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CFPB considering action on zombie foreclosures

According to a Reuters report, a CFPB official, speaking at a Federal Reserve Bank of Cleveland conference last week, stated that the CFPB is beginning to take a close look at abandoned properties and “zombie” foreclosures....more

3/18/2014 - CFPB Foreclosure Mortgages Zombie Title

CFPB sends warning to mortgage servicers

Describing his message as a “tough one,” CFPB Deputy Director Steven Antonakes told attendees yesterday at the Mortgage Bankers Association’s National Mortgage Servicing Conference that “continued sloppiness” by servicers “is...more

2/21/2014 - CFPB Mortgage Loan Servicing Standards Mortgages

CFPB Releases Final RESPA-TILA Integrated Disclosures Rule

On November 20, the Consumer Financial Protection Bureau released the nearly 1,900-page final RESPA-TILA Integrated Disclosures Rule. The rule will be effective for applications received on or after August 1, 2015. The...more

11/26/2013 - CFPB Mortgages RESPA TILA

CFPB Proposes Final Interim Mortgage Servicing Rule

In keeping with its promise to provide further guidance to the industry on the mortgage loan rules that go into effect in January, the Consumer Financial Protection Bureau (CFPB) recently issued a press release, bulletin, and...more

10/17/2013 - CFPB FDCPA Mortgage Servicers Mortgages

CFPB supervisory report highlights deficiencies in mortgage servicing, compliance management systems and fair lending compliance

Although its new mortgage servicing rules are not effective until January 10, 2014, the CFPB seems to already be using those rules as guideposts in its examinations of servicers....more

8/23/2013 - CFPB Compliance Fair Lending Mortgage Loan Servicing Standards

CFPB Issues Dodd-Frank Mortgage Rules Readiness Guide

The Consumer Financial Protection Bureau has just released a new guide that attempts to summarize various new mortgage rules that were finalized by the CFPB earlier this year....more

7/11/2013 - Ability-to-Repay CFPB Dodd-Frank Mortgages Qualified Mortgage Rule SEC TILA

CFPB Proposes Changes to Points and Fees, Loan Originator Compensation Provisions

As we reported in CFPB Monitor, the Consumer Financial Protection Bureau proposed changes earlier this week to the mortgage rules adopted in January 2013. Comments on the proposal are due July 22, 2013....more

6/29/2013 - CFPB Loan Originator Compensation Rule Loan Servicing Mortgage Loan Originators Mortgage Servicing Rules Mortgages

CFPB Proposes Changes to Ability-To-Repay, Servicing Rules

In keeping with its promise to provide further guidance to the industry on the recent mortgage loan rules, the Consumer Financial Protection Bureau recently proposed clarifications and changes to the...more

4/26/2013 - Ability-to-Repay CFPB Mortgage Servicing Rules Mortgages Qualified Mortgage Rule

Mortgage Banking Update - February 21, 2013

In This Issue: - MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules - Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more

2/21/2013 - CFPB Class Action Debt Collectors Deed of Trust Disclosure Requirements DOJ Fair Lending Fraud Information Sharing Interest Rates Licenses MERS Mortgage Loan Originators

Mortgage Banking Update - Febuary 06, 2013

In This Issue: - Settlement of Michigan Lending Discrimination Lawsuit Underscores Regulatory Focus on Equal Access to Credit - Industry Employers Should Prepare Now for Health Care Reform - Title...more

2/6/2013 - Affordable Care Act Agents Canning v NLRB CFPB Community State Bank Discrimination DOJ ECOA Employer Group Health Plans Equal Access to Credit FFIEC Healthcare Insurance Agents Negligence NLRB Pay or Play Race Discrimination Recess Appointments Richard Cordray Social Media Title Examination Title Insurance Underwriting

CFPB Issues Final ECOA Appraisal Rule

The Consumer Financial Protection Bureau has issued a final rule to implement Dodd-Frank amendments to the Equal Credit Opportunity Act that require creditors to provide to a first lien mortgage applicant a copy of all...more

1/25/2013 - Appraisal CFPB Dodd-Frank ECOA Liens Mortgages Valuation

Mortgage Banking Update - January 25, 2013

In This Issues: - CFPB Generates Flurry of New Mortgage Banking Industry Rules - CFPB Issues Final ECOA Appraisal Rule - 20 State Agencies Adopt Uniform State MLO Testing - Mortgage Foreclosure Is Debt...more

1/25/2013 - Appraisal CAFA CFPB Class Action Debt Collectors FDCPA Foreclosure Licenses Mortgages Removal

CFPB Issues Final Rule on Loan Originator Compensation Requirements

The CFPB has issued a final rule to incorporate Dodd-Frank requirements into the existing Regulation Z loan originator compensation rule that applies to mortgage loans....more

1/23/2013 - Arbitration CFPB Compensation & Benefits Dodd-Frank Mandatory Arbitration Clauses Mortgage Loan Originators Mortgages

Agencies Adopt Final Appraisal Rule for Higher-Priced Mortgage Loans

Today, the federal financial institution agencies (the FDIC, Fed, OCC, and NCUA), the CFPB, and the Federal Housing Finance Agency adopted a joint final rule to implement Dodd-Frank appraisal requirements for higher-priced...more

1/21/2013 - CFPB Dodd-Frank FDIC Federal Reserve Higher-Priced Mortgage Loans Mortgages NCUA OCC TILA

CFPB Issues Final Mortgage Servicing Rules

The CFPB today issued its final rules implementing provisions of the Dodd-Frank Act that relate to mortgage servicing, which will take effect on January 10, 2014....more

1/18/2013 - CFPB Dodd-Frank Foreclosure Mortgages Servicing Policies

High-Cost Loan Final Rule Temporarily Averts FHA Loan Crisis

On January 10, 2013, the CFPB issued a final high-cost loan rule under Dodd-Frank that includes a modified version of a proposal that will temporarily avoid a crisis with FHA loans....more

1/14/2013 - CFPB Dodd-Frank FHA HOEPA Mortgages TILA

CFPB Final Ability-To-Repay Rule Prompts Cautious Optimism from Industry

The CFPB has issued its long-awaited ability to repay/qualified mortgage rule, and at first glance, it appears to warrant cautious optimism for the mortgage industry....more

1/14/2013 - Ability-to-Repay Borrowers CFPB Dodd-Frank Loans Mortgages Qualified Mortgage Rule Refinancing Underwriting

CFPB Adopts Mortgage Escrow Account Final Rule

Among other final rules published on January 10, 2013, the CFPB issued its final mortgage escrow account rule under a section of the Dodd-Frank Act relating to the establishment of mandatory escrow accounts on higher-priced...more

1/14/2013 - CFPB Dodd-Frank Mortgage Escrow Account Mortgages

Mortgage Banking Update - November 30, 2012

In This Issue: - CFPB and FTC Announce Joint Action Against Mortgage Advertisers - Temporary Exemptions Adopted for Mortgage Disclosures - Fourth Circuit Rejects FDCPA Challenge to Prerecorded Calls Seeking...more

11/30/2012 - CFPB FDCPA FTC Mortgages

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