The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more
7/25/2024
/ Borrowers ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Default ,
Financial Distress ,
Forbearance Agreements ,
Foreclosure ,
Interim Final Rules (IFR) ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgages ,
Proposed Amendments ,
Regulation X ,
Regulatory History ,
RESPA
• New Jersey Gov. Phil Murphy signed Assembly Bill A-4997 into law on April 29, 2019, dramatically expanding the state's regulation of residential mortgage servicers.
• The law requires nonbank finance companies that...more
5/1/2019
/ Banking Sector ,
Banks ,
Consumer Reporting Agencies ,
Enforcement Actions ,
Financial Institutions ,
Government Entities ,
Governor Murphy ,
Licenses ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgage Servicing Rules ,
Mortgages ,
Popular ,
Truth in Lending Act (TILA)
• The State of New Jersey, on Aug. 24, 2018, enacted Assembly Bill 2035 that makes significant and important amendments (Amendments) to the Residential Mortgage Lending Act (RMLA), which had not been amended since it was...more
8/28/2018
/ Amended Legislation ,
Banking Sector ,
Financial Institutions ,
Licensing Rules ,
Mortgage Brokers ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
Reporting Requirements ,
Residential Real Estate Market ,
State and Local Government