Shortly after the inauguration of President Joe Biden on January 20, former Consumer Financial Protection Bureau (CFPB or Bureau) Director Kathleen Kraninger submitted her resignation. Soon after that, the president announced...more
2/9/2021
/ Biden Administration ,
CARES Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Guidance ,
Fair Lending ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgages ,
Racial Bias ,
Regulatory Oversight
The Federal Financial Institutions Examination Council (FFIEC) on behalf of its members issued a statement on August 3 setting forth prudent risk management and consumer protection principles for financial institutions as...more
The Consumer Financial Protection Bureau (CFPB or Bureau) issued an interim final rule (IFR) on June 23, 2020 that temporarily permits mortgage servicers to offer to borrowers impacted by the coronavirus (COVID-19) pandemic...more
As the Small Business Administration grafts preexisting eligibility rules atop the Paycheck Protection Program, courts step in to expand access. ...more
Federal and state regulators and Congress continue to release new guidance and requirements to assist mortgage borrowers facing economic hardships resulting from the coronavirus (COVID-19) pandemic. ...more
5/13/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Fannie Mae ,
FHFA ,
Financial Distress ,
Forbearance Agreements ,
Freddie Mac ,
GSE ,
Housing Market ,
Mortgage Servicers ,
Mortgages ,
Relief Measures
The Federal Housing Finance Agency (FHFA) announced on April 21 that servicers’ obligation to advance scheduled monthly payments for Fannie Mae and Freddie Mac (the Enterprises) backed single-family mortgage loans in...more