Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
On August 10, 2018, the Board of Governors of the Federal Reserve (“Board of Governors”) announced that a national bank had consented to the assessment of a civil money penalty totaling $8.6 million pursuant to the Federal...more
A recent appeal to the Fourth Circuit may shed light on whether Virginia borrowers can assert federal mortgage servicing requirements as a defense to foreclosure when the mortgage instrument pre-dates the federal requirement....more
In yesterday’s Federal Register, the CFPB published the compliance bulletin and policy guidance (Bulletin 2014-01) regarding mortgage servicing transfers that it previously issued on August 19, 2014 (New Guidance). The New...more
The Southern District of California recently held that claims against a mortgage loan servicer are not preempted by the Home Owners Loan Act (HOLA) when they rely on "general allegations of misrepresentation" and are only...more