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Did the CFPB Create New Obligations for Mortgage Servicers in Its Supervisory Highlights Report?

While the Spring 2024 Supervisory Highlights report issued by the Consumer Financial Protection Bureau (CFPB) largely covered loss mitigation deficiencies and fee practices — issues that are regulatory priorities and,...more

CFPB Analyzes the Financial Health of Rural Borrowers in the South

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

CFPB Highlights Banking and Credit Hurdles for Minority and Rural Borrowers in the South

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

CFPB Updates Mortgage Servicing Exam Procedures

On January 18, 2023, the Consumer Financial Protection Bureau (CFPB) released an updated version of its Mortgage Servicing Examination Manual. As the CFPB described in a corresponding blog post, the manual outlines “the types...more

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into Question

On October 19, 2022, the Fifth Circuit Court of Appeals issued its opinion in Community Financial Services Association of America, et al. v. CFPB (CFSA v. CFPB) invalidating the CFPB’s Payday, Vehicle-Title, and Certain...more

After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy Thanksgiving

Now that the pandemic’s “social distancing” is lessening, we hope you are all able to gather with friends and family this Thanksgiving. As we do the same, we wanted to count our blessings as we review the year. This year, we...more

Agencies’ Joint Statement on Supervisory and Enforcement Practices Forecasts Increased Scrutiny and Regulatory Activity

On November 10, 2021, the Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller...more

September Update: COVID-19 Mortgage Servicing Trends Report

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

The CFPB’s New COVID-19 Procedural Safeguard Rules Pose Significant Compliance Challenges for Mortgage Servicers

Just two short months after the Consumer Financial Protection Bureau announced its COVID-19 mortgage servicing final rule, the effective date of August 31, 2021, is here. As we noted in our detailed breakdown of the final...more

CFPB Releases TRID Guidance for Juneteenth National Independence Day

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

Detailed Breakdown of the CFPB’s COVID-19 Mortgage Servicing Final Rule

With the release of the Consumer Financial Protection Bureau’s COVID-19 mortgage servicing final rule and an August 31, 2021, effective date that will be here before we know it, the race is on for servicers to digest the...more

CFPB Releases COVID-19 Mortgage Servicing Final Rule

On June 28 2021, the Consumer Financial Protection Bureau released its much-anticipated mortgage servicing final rule related to COVID-19. This rulemaking amends Regulation X and, as expected, largely tracks the proposal that...more

April Update: COVID-19 Mortgage Servicing Trends Report

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

The Long Shadow: COVID-19 Continues to Pose Significant Compliance Challenges for Mortgage Servicers

The COVID-19 Pandemic has wreaked havoc on the mortgage servicing industry, putting significant strain on both mortgage servicers and their borrowers. During this pandemic, mortgage servicers are faced with the difficult task...more

CFPB Proposes COVID-19-Related Amendments to the Mortgage Servicing Rules

On April 5, 2021, the Consumer Financial Protection Bureau issued a proposal to amend the existing loss mitigation rules in Regulation X. As stated in the Bureau’s press release, the proposal is designed to “help prevent...more

What Does CA AB 3088 Mean for Mortgage Servicers? PART II

Last year, our blog, What Does CA AB 3088 Mean for Mortgage Servicers?, examined some new and notable obligations California imposes on mortgage servicers, including requirements to provide forbearance denial notices. In that...more

When Do CARES Act Forbearance Rights and Foreclosure Moratoriums End?

The March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains a number of provisions that help borrowers with federally backed mortgage loans. Among these are forbearance protections for borrowers...more

Covid-19 Mortgage Servicing Trends Report - Update

Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. This report is intended to show industry trends, not facts, and does not necessarily...more

COVID-19 Mortgage Servicing Trends Report: 2020 Year-End Review

Oh what a year it has been in the mortgage servicing world! In 2020, our COVID-19 Compliance Roundtable met weekly to discuss emerging compliance issues under the CARES Act, federal agency guidance, state laws and orders, and...more

GSE Deferral Programs Continue to Pose Risk for Mortgage Servicers

In mid May 2020, we highlighted that the Fannie Mae and Freddie Mac (GSEs) COVID-19 payment deferral programs put mortgage servicers at risk of violating some of the Consumer Financial Protection Bureau’s (CFPB) Mortgage...more

Update: COVID-19 Mortgage Servicing Trends Report

Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables... The polling results included in this report are the anonymous responses of...more

Mortgage Servicing in the Age of COVID-19: Post Forbearance

On page 8 of the September–October issue, we discussed the COVID-19 forbearance landscape and related compliance challenges for mortgage servicers. In this article, we unpack the post-forbearance world, focusing on the...more

COVID-19 Mortgage Servicing Trends Report

Bradley is proud to share the following information collected from the live polls presented at its weekly COVID-19 Compliance Roundtables. This report is intended to show industry trends, not facts, and does not necessarily...more

CFPB Issues Interim Final Rule to Enable COVID-19 Payment Deferral Options

On May 14, 2020, shortly after the Fannie Mae and Freddie Mac COVID-19 payment deferral options were announced, we warned mortgage servicers about the legal risks associated with offering payment deferral programs to...more

CFPB Issues No-Action Letter Template for an Online Loss Mitigation Platform

On May 22, 2020, the CFPB issued a No-Action Letter (NAL) Template to a software company utilizing an internet-based platform for submission and processing of loss mitigation applications. Mortgage servicers may use the NAL...more

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