A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
In this month's article, we share some of our top "bites" for the prior and current month covered during the July 2024 webinar....more
In a consent order with a reverse mortgage servicer on June 18, 2024, the Consumer Financial Protection Bureau (CFPB) made the argument that failing to effectively service loans is abusive. The groundwork for this line of...more
On June 18, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it has entered into consent orders with two companies totaling $16.5 million in civil penalties and consumer redress,...more
The CFPB entered into consent orders with a Home Equity Conversion Mortgage ("HECM," also known as a "reverse mortgage") servicing contractor, its subcontractor, and two of its subcontractor's subsidiaries. The U.S....more
Real Property Update- Landlord-Tenant: rider to a lease, containing clear and unambiguous language, controlled over the terms in the lease and limited the increase in the operating expenses charged to the tenant by the...more
Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more
On November 20, 2013, the Consumer Financial Protection Bureau (the “CFPB”) issued the RESPA-TILA Integrated Disclosures Final Rule. The 1,888 page rule will become effective for applications taken on or after August 1, 2015,...more