ABA, the Mortgage Bankers Association and the National Mortgage Servicing Association cautioned the Federal Housing Administration that a proposed payment supplemental partial claim option “would significantly increase the operational, compliance, liquidity and reputational risk for mortgage servicers, while introducing potential harm to borrowers.”
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
The data collected will include borrowers’ age, race, ethnicity, gender and language preference, effective March 2023.
In a new blog post, the CFPB highlighted its resources available to help financial institutions serve their Spanish-speaking customers.
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.
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.
In a new blog post this week, the CFPB said it “strongly encourages” servers to participate in programs related to the Homeowner Assistance Fund.
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.
Flood insurance providers may begin communicating often substantial rate increases to borrowers this month. Here’s how to prepare for customer questions.