Report finds significant volume of COVID-assistance loan fraud
At least 17% of all COVID-19 economic injury disaster and payment protection program loans were disbursed to potentially fraudulent actors, ...
Tag: COVID-19
GSEs update deferral policies to allow for six-month payment deferrals
Fannie Mae and Freddie Mac will allow borrowers facing hardships to defer up to six months of mortgage payments under ...
CFPB suggests mortgage servicers continue offering COVID-related relief in nonpandemic situations
The agency expects servicers to continuing using 'all the tools at their disposal' to keep consumers in their homes.
Brainard reflects on effects of COVID, war on inflation
The “relative inelasticity of supply in key sectors” sets the economy of the past three years (encompassing the COVID-19 pandemic ...
CFPB report flags pandemic-related issues in deposits, mortgage servicing
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
Ahead of G20 meeting, FSB chair warns of economic slowdown
The Financial Stability Board today published a letter from Chairman Klaas Knot warning of global financial system vulnerabilities and providing ...
The challenge of financial fraud detection two years into a pandemic
The most sophisticated and user-friendly method for blocking credential stuffing attacks is to use behavior-based detection and blocking.
SBA OIG calls out lack of guidance to lenders on PPP fraud
The U.S. Small Business Administration failed to provide lenders with “sufficient, specific guidance to effectively identify, track, address and resolve ...
FDIC lookback: banking conditions improved in 2021
The FDIC today said that the banking environment improved in 2021 as the economy recovered from a period of economic ...
CFPB report analyzes servicer data on borrowers exiting COVID forbearance
Just 0.2% of mortgage loans exited COVID-19 forbearance programs with a status of foreclosure, short sale or deed in lieu, ...
