CFPB Issues Proposed Rule Prohibiting Foreclosure Notices Until Dec. 31
The Consumer Financial Protection Bureau today proposed to establish a temporary COVID-19 emergency pre-foreclosure review period under Regulation X that...
Mortgage
CFPB Warns Servicers: Prepare to Assist Customers Exiting Forbearance
In a compliance bulletin issued today, the Consumer Financial Protection Bureau called on mortgage servicers to “take all necessary steps...
OCC: Mortgage Performance Declines in Fourth Quarter
The share of current and performing first-lien mortgages in the fourth quarter of 2020 was 93.3%, down from 96.5% a...
May I Send Adverse Action Notices to Joint Applicants at the Same Mailing Address—Even if They Reside at Different Addresses?
. . . and other questions and answers from the March/April 2021 ABA Regulatory Policy and Compliance Inbox.
ABA Weighs in on Proposed GSE Liquidity, Resolution Planning Requirements
In two comment letters to the Federal Housing Finance Agency last week, the American Bankers Association weighed in on proposed...
Philly Fed Survey Finds 10% of Respondents Took COVID-19 Forbearance
More than 10% of respondents in a recent Federal Reserve Bank of Philadelphia survey said they had entered mortgage forbearance...
CFPB Extends Mandatory Compliance Date for QM Rule; GSE Patch Remains in Effect
As expected, the Consumer Financial Protection Bureau today proposed to delay the mandatory compliance date of the General Qualified Mortgage...
CFPB Nominee Has ‘Open Mind’ About Potential QM Rule Changes
At his confirmation hearing to serve as the next director of the Consumer Financial Protection Bureau today, Rohit Chopra told...
CFPB Report: Share of Delinquent Mortgages Doubles During Pandemic
The number of homeowners that are behind on their mortgage has doubled since the beginning of the pandemic, with 6%...
ABA Offers Feedback on Potential Changes to GSE Housing Goals
In a letter to the Federal Housing Finance Agency today, the American Bankers Association cautioned against using housing goals for...
