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.
Browsing: Servicing
FHFA adds to scope of servicers’ fair lending data collection
The data collected will include borrowers’ age, race, ethnicity, gender and language preference, effective March 2023.
CFPB blog post highlights resources for Spanish-language customers
In a new blog post, the CFPB highlighted its resources available to help financial institutions serve their Spanish-speaking customers.
Six top concerns for mortgage bankers
These challenges will affect all markets, but will have local distinctions that will be important for market participants to understand as they navigate the uncertain road ahead.
ABA comments on FHFA’s re-proposed eligibility standards for enterprise single-family seller/servicers
In a letter to FHFA, ABA commented on the re-proposed update to standards that mortgage lenders would have to meet to sell loans to or service loans on behalf of Fannie Mae and Freddie Mac.
FHFA announces foreclosure suspension for borrowers requesting HAF assistance
Mortgage servicers will be required to suspend foreclosure activities for up to 60 days if they are notified that a borrower has applied for mortgage assistance under the Treasury Department’s Homeowner Assistance Fund, the Federal Housing Finance Agency announced today.
CFPB Encourages Servicer Participation in Federal Homeowner Assistance Program
In a new blog post this week, the CFPB said it “strongly encourages” servers to participate in programs related to the Homeowner Assistance Fund.
FHFA Re-Proposes Updated Seller, Servicer Eligibility Requirements
The Federal Housing Finance Agency today re-proposed updated standards that mortgage lenders would have to meet in order to sell loans to or service loans on behalf of Fannie Mae and Freddie Mac.
Incoming: Flood Insurance Premium Changes from Risk Rating 2.0
Flood insurance providers may begin communicating often substantial rate increases to borrowers this month. Here’s how to prepare for customer questions.
Banking, Consumer Groups Call for Changes to FHA’s Proposed Defect Taxonomy
The American Bankers Association, the Housing Policy Council and the Mortgage Bankers Association today offered comments on recent proposed changes to a section of the Federal Housing Administration’s Single-Family Housing Policy Handbook related to the servicing defect taxonomy.