News & Analysis as of

Mortgage Bankers Association

Dorsey’s Artin Betpera Advocates on Behalf of the Mortgage Industry with the California MBA at the State Capitol

by Dorsey & Whitney LLP on

It’s sure been busy at our State Capitol here in California this week. While the Legislators were furiously debating an increase in our state gas tax (already one of the highest in the nation), the California Mortgage Bankers...more

Expect a Change to Regulation of Non-Bank Mortgage Servicers

by Baker Donelson on

Last month, Citigroup announced plans to exit the mortgage servicing business and sell off a $97 billion portfolio to a non-bank servicer and transfer their remaining mortgage servicing rights (MSRs) to another non-bank...more

FCC Denies TCPA Exemption for Mortgage Servicing Calls

by Ballard Spahr LLP on

The Federal Communications Commission (FCC) has denied the petition filed by the Mortgage Bankers Association (MBA) seeking an exemption from the prior express consent requirement of the Telephone Consumer Protection Act...more

FCC Declines TCPA Exemption for Mortgage Servicers

Rejecting a mortgage industry request, the Federal Communications Commission (FCC) has formally denied an exemption from the prior-express-consent mandates of the Telephone Consumer Protection Act for mortgage servicers,...more

TCPA FCC Petitions Tracker

by Kelley Drye & Warren LLP on

Kelley Drye’s Communications Practice Group presents this tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). With the recent increase in litigation...more

FCC Denies TCPA Exemption for “Mortgage Servicing Calls”

by Kelley Drye & Warren LLP on

On November 15, 2016, the Consumer and Governmental Affairs Bureau (CGB) released an order denying a request by the Mortgage Bankers Association (MBA) for an exemption of the prior-express-consent requirement of the TCPA for...more

TCPA Update - October 2016

by Mintz Levin on

We are pleased to present the latest edition of Monthly TCPA Digest, bringing you insights on TCPA regulatory and legislative updates, class action developments, and trends. If you have suggestions for content you would like...more

Mortgage Industry Seeks Exemption Under TCPA

by Ballard Spahr LLP on

The Federal Communications Commission (FCC) is expected in the near term to decide the fate of an exemption sought by the Mortgage Bankers Association (MBA) over the Telephone Consumer Protection Act's (TCPA) prior express...more

Cordray remarks to MBA signal continued CFPB focus on servicing, likely petition for rehearing in PHH case

by Ballard Spahr LLP on

In his remarks at the Mortgage Bankers Association’s annual meeting in Boston on October 25, Director Cordray signaled that mortgage servicing will continue to be a focus of CFPB supervisory and enforcement activity, with the...more

MBA launches new networking platform for women

by Ballard Spahr LLP on

Women in the real estate financing sector have a new opportunity to connect with others in their field and to access and exchange information about the industry. On October 18, the Mortgage Bankers Association (MBA)...more

Part I - TCPA: Regulatory - Calls By or on Behalf of the Federal Government

by Mintz Levin on

A number of organizations filed comments and/or reply comments regarding the National Consumer Law Center (“NCLC”)’s Petition for Reconsideration of the Broadnet Declaratory Ruling, which asks that the FCC reconsider its...more

TCPA FCC Petitions Tracker

by Kelley Drye & Warren LLP on

Kelley Drye’s Communications Practice Group presents this tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). With the recent increase in litigation...more

Goodwin Files Amicus Brief on Behalf of the Mortgage Industry

by Goodwin on

On August 3, 2016, Goodwin filed an amicus brief in the Washington Supreme Court on behalf of the Mortgage Bankers Association and the Consumer Mortgage Coalition. The case—Jordan v. Nationstar Mortgage LLC—involved a...more

CFPB Proposes TRID Rule Clarifications

by Alston & Bird on

On Friday, July 29, 2016, the Consumer Financial Protection Bureau (CFPB) proposed revisions to the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure Rule (the “TRID Rule”),...more

Goodwin Files Supreme Court Amicus Brief On Behalf Of The Mortgage Industry

by Goodwin on

On July 25, 2016, Goodwin filed a certiorari-stage amicus brief on behalf of the Mortgage Bankers Association, Consumer Mortgage Coalition, and several other mortgage industry groups. The case involves a Connecticut law that...more

FHA and VA to Expand Coverage to Properties with Certain PACE Assessments

by Ballard Spahr LLP on

The Federal Housing Administration (FHA) has announced guidance intended to clarify circumstances under which residential properties encumbered by a Property Assessed Clean Energy (PACE) special assessment would be eligible...more

TCPA FCC Petitions Tracker

by Kelley Drye & Warren LLP on

Kelley Drye’s Communications Practice Group presents this tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). With the recent increase in litigation...more

Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right

On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security...more

The TRID Rule: Impact and Consequences on the Residential Mortgage Lending Market

by Carlton Fields on

Introduction and Background - Residential mortgage lenders have long been required to disclose to their borrowers (i) the cost of credit to the consumer and (ii) the cost to the consumer of closing the loan transaction....more

Financial Services Weekly News - April 2016 #2

by Goodwin on

Regulatory Developments - Cordray Testifies before Senate Banking Committee - On April 7, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the Senate Banking Committee during the...more

Recent Letter from CFPB Director Makes Clear that Mortgage Lenders Should Be Promptly Correcting Defects in Loan Documents, Even...

by Balch & Bingham LLP on

In December 2015, the Mortgage Bankers Association wrote to the Consumer Financial Protection Bureau for clarification regarding the implementation of the recent TILA-RESPA Integrated Disclosure (“TRID”) rule. ...more

CFPB Issues Letter on TRID Enforcement and Liability

On December 29, 2015, CFPB Director Richard Cordray sent a letter to the president of the Mortgage Bankers Association regarding implementation of the CFPB’s Know Before You Owe mortgage disclosure rule (more commonly known...more

CFPB responds to industry concerns about TRID rule liability

by Ballard Spahr LLP on

Reacting to reports of investors refusing to purchase loans based on various, often technical, violations of the TILA/RESPA Integrated Disclosure (TRID) rule, the Mortgage Bankers Association (MBA) sent a letter to the CFPB...more

Fannie Mae’s Credit-Risk Transfer Initiatives Approach the Half-Trillion-Dollar-Mark, Reducing Taxpayers’ Exposure – But Some Are...

by Reed Smith on

While the FHFA’s conservatorships of Fannie Mae and Freddie Mac are unlikely to end before 2017, the Enterprises continue to transfer more credit risk from their single-family residential mortgages to private insurers. Both...more

First Month of “Know Before You Owe” Better than Expected

by Goodwin on

A month has passed since the new TILA-RESPA Integrated Disclosure (“TRID” or “Know Before You Owe”) requirements went into effect on October 3, 2015, and while the transition has not been completely smooth, it has gone better...more

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