News & Analysis as of

UDAAP Mortgage Servicers

Goodwin

CFPB Bemoans “Junk Fees” in Mortgage Servicing

Goodwin on

On April 24, 2024, the CFPB released its Supervisory Highlights, Mortgage Servicing Edition, (Issue 33, Spring 2024) which provides insight on the CFPB’s current focus in examining mortgage loan servicers. According to the...more

Husch Blackwell LLP

CFPB Crusade Continues: Mortgage Servicers and "Junk Fees"

Husch Blackwell LLP on

Continuing its vigorous effort to eliminate so-called “junk fees,” and detailing other problematic mortgage servicer activities, the Consumer Financial Protection Bureau (CFPB) recently released its Spring 2024 Supervisory...more

Troutman Pepper

CFPB Releases Special Edition of its Supervisory Highlights Focusing on Mortgage Servicers’ Alleged “Junk Fees”

Troutman Pepper on

On April 24, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights report focusing on examinations of the residential mortgage servicing market that were completed...more

Baker Donelson

How Does the CFPB View Private Label Servicing?

Baker Donelson on

As mortgage servicing compliance costs have risen year over year, lenders have looked for a way to decrease costs while retaining their customer visibility and brand awareness. In response to this demand, private label...more

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

Ballard Spahr LLP on

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Stinson - Corporate & Securities Law Blog

CFPB Month in Review for August 2016

In case you missed it, here is what the Consumer Financial Protection Bureau (CFPB) was up to over the last month: Enforcement Actions and Litigation - Enforcement Action Against First National Bank of Omaha - ...more

MoFo Reenforcement

CFPB Examination Resource Guide

MoFo Reenforcement on

CFPB has explained to industry participants what to expect in examinationss, both in terms of exam process and covered laws & regs. SUPERVISION AND EXAMINATION MANUAL – VERSION 2.0 First issued in 10/2011, revised &...more

Foley & Lardner LLP

UDAAP Council Weekly UDAAP Standards Report - 4/1/2015

Foley & Lardner LLP on

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the meaning...more

K&L Gates LLP

UDAAP Round Up: 2014 Year in Review

K&L Gates LLP on

In this issue: - A. UDAP/UDAAP Actions - 1. Auto Lending - 2. Banking Products - 3. Credit Card Add-On Products - 4. Credit Card Advertising - 5. Credit Reporting and Monitoring...more

Goodwin

CFPB Issues Report on Problems in Mortgage Servicing - February 2014

Goodwin on

The CFPB released its Supervisory Highlights report highlighting problems in the mortgage servicing market during 2013. The report includes information gathered by the CFPB through its supervision program between July and...more

Goodwin

CFPB and State Regulators Take Enforcement Action for Alleged UDAAP Violations

Goodwin on

The CFPB announced an enforcement action against a nonbank mortgage lender and its mortgage servicer alleging the companies engaged in unfair, deceptive and abusive acts or practices in violation of the Consumer Financial...more

Ballard Spahr LLP

Are all FDCPA violations by creditors and servicers potential UDAAPs: a difference of opinion

Ballard Spahr LLP on

Jeff Sovern has written an interesting blog post about the CFPB’s recent Bulletin 2013-07 that warns creditors and servicers who are not covered by the FDCPA that their collection practices are subject to the CFPB’s authority...more

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