On December 8th, the Consumer Financial Protection Bureau (CFPB) issued the 25th edition of its Supervisory Highlights report, which covers examinations completed in the first half of 2021. The CFPB reported on violations...more
On July 21, Acting Director Dave Uejio celebrated the 10-year anniversary of the Consumer Financial Protection Bureau (CFPB) by giving prepared remarks highlighting the CFPB’s activities over the past 10 years in enforcement,...more
On April 5th, the CFPB proposed a set of rule changes intended to prevent foreclosures as emergency federal foreclosure protections expire this summer. Given that the expected surge of borrowers exiting forbearance in the...more
4/6/2021
/ Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Foreclosure ,
Hardship Extensions ,
Homeowners ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgage Servicing Rules ,
Mortgages ,
Proposed Rules ,
Public Comment
The CFPB issued a compliance bulletin on April 1st warning mortgage servicers to take all necessary steps to prevent a wave of foreclosures this fall. The CFPB advised that beginning with the expiration of the federal...more
4/6/2021
/ Borrowers ,
CFPB Bulletins ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Foreclosure ,
Homeowners ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages
The year 2020 was a tumultuous one given the unexpected COVID-19 pandemic, particularly for the mortgage lending and servicing industry. In response to sudden stay-at-home orders and a sharp drop in employment rates, federal...more
4/2/2021
/ Biden Administration ,
CARES Act ,
Code of Federal Regulations (CFR) ,
Consumer Litigation ,
Government Agencies ,
Litigation Fees & Costs ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Paycheck Protection Program (PPP) ,
Regulatory Oversight ,
State and Local Government ,
State Regulators
The Consumer Financial Protection Bureau (CFPB) announced today that it has entered into a settlement with Nationstar Mortgage, LLC, d/b/a “Mr. Cooper,” one of the nation’s largest mortgage servicers and the largest non-bank...more