Loss Mitigation › Mortgages

News & Analysis as of May 18, 2013

A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules

Illinois Supreme Court Issues New Rules Affecting Mortgage Foreclosures

by Mark Birnbaum, David Gold, Bates McIntyre Larson | Perkins Coie on 4/25/2013

The Illinois Supreme Court has issued new court rules that become effective on May 1, 2013, modifying the evidentiary requirements for obtaining foreclosure judgments, among other things. The rules are the result of the work...more

Freddie Mac Issues Numerous Loss Mitigation Policy Updates

by BuckleySandler LLP on 2/27/2013

On February 15, Freddie Mac issued Bulletin 2013-3, which provides a series of updates and revisions to its loss mitigation policies. The Bulletin reminds servicers of their obligations with regard to various transfers of...more

CFPB To Focus On Mortgage Servicing Transfer Compliance

by Ryan L. DiClemente, Francis X. Riley, III | Saul Ewing LLP on 2/14/2013

The Consumer Financial Protection Bureau ("CFPB") recently warned servicers that it will be using its supervisory authority to ensure that a mortgage servicer has the appropriate policies and procedures in place to protect...more

InfoBytes Special Alert: Detailed Analysis Of CFPB's Mortgage Servicing Rules

by BuckleySandler LLP on 2/6/2013

On January 17, the CFPB issued final rules amending Regulation Z (TILA) and Regulation X (RESPA) to implement certain mortgage servicing standards set forth by the Dodd-Frank Act and to address other issues identified by the...more

Special Alert: Summary of CFPB Mortgage Servicing Rules Proposals

by BuckleySandler LLP on 9/24/2012

Following years of discussion about the wisdom of “national servicing standards” and piecemeal efforts to impose rules of conduct through enforcement actions against individual servicers, the Consumer Financial Protection...more

CFPB Proposes National Mortgage Servicing Rules

by Morrison & Foerster LLP on 9/13/2012

On August 10, 2012, the U.S. Bureau of Consumer Financial Protection (the “CFPB”) released two proposed rules (the “Proposed Rules”) intended to implement the mortgage servicing provisions of the Dodd-Frank Wall Street Reform...more

Consumer Financial Protection Bureau Update: The Proposed Mortgage Servicing Rules

by Schnader Harrison Segal & Lewis LLP on 8/17/2012

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

U.S. Consumer Financial Protection Bureau Proposes Mortgage Servicing Reforms

by Dechert LLP on 8/15/2012

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

CFPB Proposes New Rules for Mortgage Servicing Industry

by King & Spalding on 4/13/2012

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

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