On June 21, 2023, the CFPB released two Data Spotlight reports focused on the Southern states, entitled “Banking and Credit Access in the Southern Region of the U.S.” and “Consumer Finances in Rural Areas of the Southern...more
On April 26, 2023, the CFPB issued an advisory opinion clarifying that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection...more
Late last week, the Consumer Financial Protection Bureau (CFPB) released an interpretive rule that provided much-welcome guidance related to the effect of the new Juneteenth National Independence Day on disclosure waiting...more
8/10/2021
/ Banking Sector ,
Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Financial Institutions ,
Financial Services Industry ,
Holidays ,
Interpretive Rule ,
Mortgage Lenders ,
Mortgages ,
TILA-RESPA Integrated Disclosure Rule (TRID)
Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. The polling covers hot topics, including forbearances, deferrals, HUD loss mitigation...more
5/6/2021
/ Compliance ,
Coronavirus/COVID-19 ,
Credit Reports ,
Deferral Standard ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
HUD ,
Mortgage Lenders ,
Mortgages ,
Notarization ,
Polling ,
State and Local Government
On June 17, New York Gov. Andrew Cuomo signed one of the most far-reaching COVID-19 mortgage assistance state programs yet into law. Affected servicers and lenders will soon need to decide whether they should find a way to...more
6/23/2020
/ Compliance ,
Constitutional Challenges ,
Contracts Clause ,
Coronavirus/COVID-19 ,
Forbearance Agreements ,
Governor Cuomo ,
Loan Modifications ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
Relief Measures
Consumers that have pending Chapter 13 bankruptcy cases undoubtedly suffered from financial hardship prior to the COVID-19 pandemic. For many of those consumers, the pandemic may have exacerbated that hardship...more
4/14/2020
/ Chapter 13 ,
Chapter 7 ,
Consumer Bankruptcy ,
Coronavirus/COVID-19 ,
Creditors ,
Debtors ,
Forbearance Agreements ,
Lenders ,
Liens ,
Mortgage Lenders ,
SCOTUS ,
Senior Lenders
With new guidance and model documents issued by Fannie Mae and Freddie Mac, the mortgage industry is several steps closer to operating without LIBOR.
The industry has been grappling with the eventual demise of LIBOR since...more
2/10/2020
/ Adjustable-Rate Mortgage ,
Alternative Reference Rates Committee (ARRC) ,
Banking Sector ,
Fannie Mae ,
Freddie Mac ,
GSE ,
Libor ,
Loan Servicer ,
Mortgage Lenders ,
Mortgages ,
New Guidance ,
Secured Overnight Funding Rate (SOFR)