While the new regulations implemented by the Consumer Financial Protection Bureau (CFBP) are designed to apply primarily to big banks and loan servicers, the regulatory environment for small and community banks will also be...more
The FHFA has directed Fannie Mae and Freddie Mac to prohibit servicers from being reimbursed for expenses associated with captive reinsurance arrangements. The directive follows the FHFA’s proposal in March 2013 to ban...more
The Consumer Financial Protection Bureau (“CFPB”) has issued two final rules that impose significant new mortgage servicing requirements in connection with residential mortgages to consumers. The rules implement amendments...more
On August 10, 2012, the Consumer Financial Protection Bureau (“CFPB”) issued two notices containing rules intended to protect homeowners from errors and abuses by their mortgage servicers.
The proposed rules would...more
The mortgage finance system in the United States is under radical reconstruction as a result of the events of 2007-2009. The Dodd-Frank Act (Dodd-Frank) impacts mortgage origination, servicing and securitization through a...more
On April 10, 2012, the Consumer Financial Protection Bureau (CFPB) outlined new rules it is proposing to adopt to increase accountability and transparency in the mortgage servicing industry. Pursuant to its authority under...more