The Consumer Financial Protection Bureau published a proposed rule that would update mortgage servicing rules in Regulation X. What’s next: Public comments are due by September 9, 2024. … more CFPB Proposes Rules to Help Homeowners Avoid Foreclosure
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CFPB Takes Action Against Former HUD Contract Sub-Servicer
The Consumer Financial Protection Bureau issued an order to permanently ban Sutherland Global, its subsidiaries Sutherland Government Solutions and Sutherland Mortgage Services, and NOVAD Management Consulting from servicing … more CFPB Takes Action Against Former HUD Contract Sub-Servicer
CFPB: Reverse Mortgages Represent Two Percent of Complaints
Out of 27,99 mortgage-related complaints submitted to the Consumer Financial Protection Bureau in 2023, approximately 400, or two percent, were brought against reverse mortgage companies, according to the … more CFPB: Reverse Mortgages Represent Two Percent of Complaints
CFPB Mentions LO Comp In Latest Supervisory Highlights
The Consumer Financial Protection Bureau (CFPB) released the Summer 2023 edition of its Supervisory Highlights this week, which included a section on loan originator (LO) compensation. In describing … more CFPB Mentions LO Comp In Latest Supervisory Highlights
Joint Statement On Completing the LIBOR Transition
The Consumer Financial Protection Bureau issued a joint statement with four other federal regulatory agencies, and state bank and credit union regulators, as a reminder that use of … more Joint Statement On Completing the LIBOR Transition
CFPB Publishes RESPA Section 8 Advisory Opinion
By Weiner Brodsky Kider, PC The CFPB published an Advisory Opinion on February 7, 2023, that sets forth the Bureau’s views on how RESPA Section 8 applies to Digital Mortgage … more CFPB Publishes RESPA Section 8 Advisory Opinion
CFPB Report Highlights Lender Violations
In its latest Supervisory Highlights report, the Consumer Financial Protection Bureau emphasized violations involving Loan Officer Compensation and Changed Circumstances that NRMLA felt should be shared with the membership. The … more CFPB Report Highlights Lender Violations
CFPB Publishes 2021-2022 Rulemaking Agenda
By Weiner Brodsky Kider The CFPB recently published its latest semiannual regulatory agenda of planned rulemaking activities for the period from November 1, 2021, to October 31, 2022. … more CFPB Publishes 2021-2022 Rulemaking Agenda
OCC Requests Comment on Reverse Mortgage
The Office of the Comptroller of the Currency is soliciting comments concerning the renewal of its information collection titled “Reverse Mortgage Products: Guidance for Managing Compliance and Reputation … more OCC Requests Comment on Reverse Mortgage
CFPB Issues Final Rule to Facilitate Transition from LIBOR
The Consumer Financial Protection Bureau (CFPB) published a final rule that facilitates the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes … more CFPB Issues Final Rule to Facilitate Transition from LIBOR