The national and administrative focus on advancing racial equity and support for underserved communities keeps fair servicing in the foreground as a top priority for mortgage servicers. In this webinar, you’ll hear from a...more
4/7/2023
/ Appraisal ,
Best Practices ,
Bias ,
Borrowers ,
Continuing Legal Education ,
Fair Lending ,
Fees ,
Limited English Proficiency (LEP) ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Special Purpose Credit Programs ,
Webinars
On February 7, 2023, the CFPB issued an Advisory Opinion, "Digital Mortgage Comparison-Shopping Platforms and Related Payments to Operators." Introduced by Director Rohit Chopra as a measure meant to protect mortgage...more
Continuing the uptick in regulatory scrutiny of overdraft and other bank fees by state and federal regulators, the Consumer Financial Protection Bureau (CFPB) on September 28, 2022, announced an enforcement action/consent...more
Update: On May 17, 2021, the agencies extended the deadline for comments from June 1, 2021, to July 1, 2021. The text of this post has been updated accordingly....more
The federal financial institutions regulatory agencies collectively issued a Request for Information and Comment (RFI) on March 31, 2021, to better understand how artificial intelligence (AI) and machine learning (ML) are...more
March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more
3/17/2021
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Fannie Mae ,
Forbearance Agreements ,
Freddie Mac ,
Homeowners ,
HUD ,
Lenders ,
Loans ,
Mortgage Servicers ,
Mortgages ,
Relief Measures ,
TARP
On March 9, 2021, the Consumer Financial Protection Bureau (CFPB) issued an Interpretive Rule clarifying that the Equal Credit Opportunity Act (ECOA) and Regulation B prohibit discrimination based on: Sexual orientation;...more
On October 7, 2020, the CFPB announced that it was "provid[ing] clearer rules of the road for RESPA marketing service agreements" in the mortgage industry by rescinding its 2015 guidance regarding marketing services...more
California now has its own mini Consumer Financial Protection Bureau (CFPB). Although California is not the first state to create such an entity, the new regulator's resources and authority—not to mention the size of the...more
On June 23, 2020, one week before the July 1, 2020, deadline for mortgage servicers to begin offering mortgage relief for Fannie Mae and Freddie Mac loans exiting CARES Act forbearance, the Consumer Financial Protection...more
For the second week in a row since the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law, the number of borrowers in COVID-19 related mortgage forbearance plans has decreased. As of June 9, 2020,...more
On May 22, 2020, the Consumer Financial Protection Bureau (CFPB) introduced two new No-Action Letter (NAL) "templates," described as part of the Bureau's ongoing efforts to both spur the introduction of new personal finance...more
It’s been a month since the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. Although much of the focus and public scrutiny has been on small business relief, the number of mortgage borrowers...more
Even before the CARES Act was signed into law on March 27, 2020, mortgage servicers have been inundated with requests for COVID-19-related relief. Recognizing that these requests are straining servicers’ capacity to assist...more
With the federal government’s $2 trillion emergency relief bill passed by the Senate and expected to be speedily approved by the House and signed by the President, mortgage servicers already inundated with borrower requests...more
As the COVID-19 pandemic unfolds, new emergency measures and policies to deal with the economic repercussions are being proposed, announced and implemented on a daily, if not hourly, basis. ...more