News & Analysis as of

Regulation X

Orrick's Financial Industry Week In Review

France Welcomes Foreign and Alternative Capital Providers with Latest Reform of Finance Sector - Long a cornerstone of the French banking system, the "French banking monopoly" largely prevents non-bank entities from...more

CFPB Amends Mortgage Servicing Rule to Facilitate Communications with Borrowers

by Goodwin on

On October 4, 2017, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule amending a provision of Regulation X relating to the timing servicers must observe when communicating with borrowers about...more

CFPB Makes Last-Minute Changes to 2016 Mortgage Servicing Final Rule

On October 4, 2017, the CFPB released an interim final rule and a proposed rule to amend certain provisions of its 2016 Mortgage Servicing Final Rule. While the changes will not drastically change the 2016 Mortgage Servicing...more

CFPB Enters Into RESPA Settlement With Title Agent

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order with Meridian Title Corporation (Meridian) under the Real Estate Settlement Procedures Act (RESPA). ...more

11th Circuit Draws a Line on Actual Damages Under RESPA

by Burr & Forman on

In Baez v. Specialized Loan Servicing, LLC, 16-17292, 2017 WL 4220292 (11th Cir. Sept. 22, 2017) the Eleventh Circuit Court of Appeal recognized a limit to the requirement to the phrase “actual damages” in Section 2605 of the...more

CFPB issues policy guidance and technical corrections for mortgage servicing rule amendments

by Ballard Spahr LLP on

The CFPB recently issued two updates for its Mortgage Servicing Rule amendments to Regulations X and Z. Issued on August 4, 2016, the Mortgage Servicing Final Rule amended various aspects of the existing Mortgage Servicing...more

CFPB Issues Policy Guidance on Early Implementation of the 2016 Mortgage Servicing Amendments

The Consumer Financial Protection Bureau (CFPB) released “policy guidance” on June 27, 2017 related to the effective dates of the 2016 mortgage servicing rule amendments. In response to repeated requests from the mortgage...more

CFPB Imposes Hefty Fine on Mortgage Servicer for Alleged Violations of Servicing Rules

by Goodwin on

On June 7, 2017, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order against mortgage servicer Fay Servicing, LLC (Fay), requiring Fay Servicing to pay $1.15 million to borrowers and to cease activities...more

CFPB Announces Consent Order for Mortgage Servicing Violations

by Ballard Spahr LLP on

The CFPB recently announced that it has entered into a consent order with Fay Servicing, LLC (“Fay”) to settle alleged mortgage servicing violations. A copy of the consent order can be found here. As is typical for CFPB...more

CFPB Spring 2017 Supervisory Highlights focuses on mortgage origination/servicing, student loan servicing deficiencies, service...

by Ballard Spahr LLP on

The CFPB’s newly-released Spring 2017 edition of Supervisory Highlights covers supervisory activities generally completed between September and December 2016. The report indicates that supervisory resolutions resulted in...more

Eleventh Circuit Accepts Spokeo Argument; Holds That Mere Procedural Violation is Not Enough to Confer Standing

by Balch & Bingham LLP on

In a victory for defendants, the Eleventh Circuit recently agreed that a mere procedural violation—the kind of injury that has become the favorite of the plaintiffs’ bar—is insufficient to confer Article III standing. More...more

Eleventh Circuit Takes on Mortgage Servicing Rules

In a brief opinion, the Eleventh Circuit recently examined Regulation X’s requirement that a loan servicer provide a written response acknowledging receipt of a written request for information (“RFI”) pursuant to 12 C.F.R....more

Eleventh Circuit: (1) Mere Procedural Violation Insufficient for Article III Standing and (2) Certified Return Receipt Sufficient...

by Burr & Forman on

Since Spokeo v. Robins, 136 S. Ct. 1540 (2016), as revised (May 24, 2016), the consumer finance industry has continued to refine what it means to allege a concrete injury in fact and to meet Article III case and controversy...more

CFPB Enters into Consent Orders with Citibank Subsidiaries Over Mortgage Servicing Practices

The CFPB recently entered into consent orders with several Citibank subsidiaries attacking their mortgage servicing practices during the early days of the Mortgage Servicing Rules despite the CFPB’s assurances that early...more

Implementing a Compliant Successor in Interest Confirmation Process Will Pose Significant Challenges for Mortgage Servicers

Arguably the most significant element of the recent amendments to the existing mortgage servicing regulatory framework by the Consumer Financial Protection Bureau (CFPB) is the new structure that has been laid out for dealing...more

How Does the CFPB View Private Label Servicing?

by Baker Donelson on

As mortgage servicing compliance costs have risen year over year, lenders have looked for a way to decrease costs while retaining their customer visibility and brand awareness. In response to this demand, private label...more

Eleventh Circuit Holds That Reg. X Does Not Require Mortgage Servicers to Evaluate Untimely Loan Modification Plans Even If the...

by Balch & Bingham LLP on

In a recent decision, the Eleventh Circuit (Lage v. Ocwen Loan Servicing, LLC, No. 15-15558 (11th Cir. Oct. 7, 2016)) held that a loan servicer is not required to evaluate a completed loan modification application if that...more

Real Property & Title Insurance Update: Week Ending October 14, 2016

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: foreclosing bank did not establish standing where it failed to submit evidence it was in possession of original note with blank endorsement at time of filing of foreclosure...more

CFPB Expands Protections for Successors in Interest – Attend Part 2 of Our “CFPB Mortgage Servicing Amendments” Webinar Series to...

As part of its recent amendments to the mortgage servicing rules in Regulations X and Z, the Consumer Financial Protection Bureau (CFPB) is fundamentally changing the way mortgage servicers are required to treat successors in...more

CFPB Issues Final Rule Amending Mortgage Servicing Regulations

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) issued its final rule amending the mortgage servicing rules under Regulations X and Z. The proposal for these amendments was issued in November 2014. The amended provisions...more

CFPB Amends Mortgage Servicing Rules

by Baker Donelson on

After years of requests for clarification, last week the CFPB finally issued an amendment to their mortgage servicing rules. As early as October 2013 the CFPB began to clarify said rules when they issued Bulletin 2013-12...more

CFPB Caps a Busy Week with Amendments to Mortgage Servicing Rules

Yesterday, the Consumer Financial Protection Bureau (CFPB) released the long-awaited amendments to the existing mortgage servicing rules in Regulations X and Z. For the next 12-18 months, Mortgage servicers will once again be...more

CFPB Issues Final Rule Amending Mortgage Servicing Regulations

by Ballard Spahr LLP on

The CFPB issued its final rule amending the mortgage servicing rules under Regulations X and Z.  The proposal for these amendments was issued in November 2014.  The amended provisions cover a wide range of topics, including...more

CFPB outlines future principles for loss mitigation

by Ballard Spahr LLP on

Looking forward to a post-financial crisis and post-HAMP mortgage marketplace, the CFPB has issued a document outlining principles intended to “provide a framework for discussion about the future of loss mitigation.”  The...more

CFPB to Release Amendments to the Mortgage Servicing Rules; Bradley Webinar to Follow | Financial Services Perspectives

The CFPB’s amendments to the mortgage servicing rules in Regulations X and Z are officially slated for release this month and we anticipate that they will come out any day now. Mortgage servicers, many of whom may feel like...more

63 Results
|
View per page
Page: of 3
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.