Browsing: Policy

Mortgage

The Consumer Financial Protection Bureau issued an interpretive rule yesterday clarifying that, due to the COVID-19 emergency, consumers have a greater ability to exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA integrated disclosures and Regulation Z rescission rules.

Commercial Lending

The Small Business Administration has restricted the use of robotic processing automation, or RPA, to enter Paycheck Protection Program loan applications amid lenders’ significant difficulties accessing the E-Tran system.

Commercial Lending

The Small Business Administration will conduct a “full audit” of Paycheck Protection Program loans made in amounts over $2 million to ensure the borrower’s legitimate economic need before they can be forgiven, Treasury Secretary Steven Mnuchin told CNBC today.

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