Originally proposed by the New York Department of Financial Services (NYDFS) in 2019 and constituting what the Mortgage Bankers Association has described as “the first major update to Part 419 since its adoption almost 10...more
With no immediate end in sight to the current federal shutdown, financial regulators are seeking to minimize the adverse impacts of the shutdown on individuals. In a January 11, 2019, press release, the Board of Governors of...more
In a regulatory field already crowded with federal and state regulators mandating the processes financial services companies employ in managing their vendors, the rather short insertion in the Spring 2017 issue of the...more
Law firms providing mortgage servicer clients default-related legal services are vendors, and financial services companies need to treat them as such. Not only that, law firms often interact directly and continuously with...more
8/24/2016
/ Attorney Representation Agreements ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Services Industry ,
Legal Representatives ,
Management Contracts ,
Mortgage Servicers ,
OCC ,
Third-Party Service Provider ,
Vendors
During the past five years, the relationship between financial services companies (FSCs) and their default related legal service producers (firms) has shifted profoundly. Driven by increasingly active regulators, customers,...more