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Unfair or Deceptive Trade Practices Mortgage Servicers

Wiley Rein LLP

Wiley Consumer Protection Download (September 4, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

McGlinchey Stafford

Texas Mortgage Loan Rule Changes

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The Texas Department of Savings and Mortgage Lending has proposed a wide-ranging overhaul of its rules concerning residential mortgage loan originators (RMLOs), loan companies, mortgage bankers, and servicers. Some of the...more

Manatt, Phelps & Phillips, LLP

CFPB Acts Against Mortgage Servicing Fees

On April 24, 2024, the Consumer Financial Protection Bureau (CFPB) continued its assault on fees in the consumer finance industry. In its most recent edition of Supervisory Highlights, the CFPB reported that mortgage...more

Cozen O'Connor

CFPB Crusade Against “Junk” Fees Continues in Examinations of Mortgage Servicers

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The CFPB announced that in its examination of mortgage servicers, it found that certain servicers violated truth-in-lending and other consumer protection laws designed to keep homeowners in their homes by charging homeowners...more

Troutman Pepper

CFPB Releases Special Edition of its Supervisory Highlights Focusing on Mortgage Servicers’ Alleged “Junk Fees”

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On April 24, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights report focusing on examinations of the residential mortgage servicing market that were completed...more

Bradley Arant Boult Cummings LLP

CFPB Supervisory Highlights, Mortgage Servicing Edition, Shed Light on Agency Priorities – “Junk Fees” and Loss Mitigation

The CFPB released its Supervisory Highlights, Mortgage Servicing Edition on April 24, 2024. These highlights share the CFPB’s findings from supervisory examinations completed between April 1, 2023, and December 31, 2023....more

McGlinchey Stafford

CFPB Supervisory Highlights Reflect Continued Emphasis on “Junk Fees”

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On April 24, 2024, the Consumer Financial Protection Bureau (CFPB) released the latest edition of its Supervisory Highlights, this time targeting so-called “junk fees” in the mortgage servicing industry. According to the...more

Hudson Cook, LLP

CFPB Bites of the Month - December Top 20

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more

Seyfarth Shaw LLP

$91M Nationstar Mortgage Settlement Resolves CFPB and State Claims of Illegal Loan Servicing Practices

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On December 7, 2020, the Consumer Financial Protection Bureau (CFPB) along with attorneys general from all 50 states and the District of Columbia and bank regulators from 53 jurisdictions covering 48 states and Puerto Rico,...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 3, July 2020

Welcome! Welcome to the new format of All Consuming . We listened to the feedback. A newsletter filled with long articles gives the detailed information some are looking for but becomes another thing that others have to...more

Cozen O'Connor

The State AG Report Weekly Update April 2019 #2

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Consumer Protection- 21 Democratic Attorneys General Urge U.S. Department of Education to Continue Sharing Student Loan Information- 21 Democratic AGs, led by Colorado AG Phil Weiser, New Jersey AG Gurbir Grewal, and...more

Ballard Spahr LLP

CFPB Winter 2019 Supervisory Highlights focuses on deposits, mortgage loan servicing, and remittances

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The CFPB’s Winter 2019 Supervisory Highlights discusses the Bureau’s examination findings in the areas of automobile loan servicing, deposits, mortgage loan servicing, and remittances....more

Ballard Spahr LLP

False Representation Must Be Material to Violate FDCPA, Second Circuit Rules

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Resolving tension between New York and federal law, the U.S. Court of Appeals for the Second Circuit has ruled that a debtor must show that a debt collector's alleged false representation was material for it to be a "false,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Consumer Financial Protection Bureau Update

A degree of uncertainty hangs over the Consumer Financial Protection Bureau (CFPB) following the November 2017 resignation of its first director, Richard Cordray. On his last day in office, Cordray appointed his chief of...more

Ballard Spahr LLP

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

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On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

Ballard Spahr LLP

CFPB enters into consent orders with reverse mortgage companies to settle alleged advertising violations

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The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and...more

Manatt, Phelps & Phillips, LLP

CFPB Releases Supervisory Report

In a special edition of its Supervisory Highlights publication, the Consumer Financial Protection Bureau (CFPB) detailed its Supervision findings regarding the mortgage servicing industry's compliance with CFPB regulations....more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

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In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

McGuireWoods LLP

Consumer Financial Protection Bureau Takes Action Against Payment Processing Company and Mortgage Servicer

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The Consumer Financial Protection Bureau (CFBP) recently took action against a payment processing company, Paymap Inc. (Paymap), and mortgage servicing company, LoanCare, LLC (LoanCare), for deceptive conduct in connection...more

BakerHostetler

Consumer Financial Protection Bureau Levies Repayment, Civil Fines for Deceptive Mortgage Practices

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On Tuesday, July 28, the Consumer Financial Protection Bureau ordered Paymap Inc., a Colorado-based payment processing company and wholly owned subsidiary of Western Union Company, to repay consumers $33.4 million in fees and...more

Goodwin

Dodd-Frank’s New Deputies of Federal Consumer Financial Laws—States

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In the wake of the Financial Crisis, the federal government has invigorated its civil fraud enforcement. The U.S. Department of Justice has dominated the headlines in this area with a series of significant lawsuits and...more

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