ABA joined the California Bankers Association and other industry groups in a letter opposing A.B. 1436, a bill introduced in the California legislature that would mandate specific outcomes for mortgage forbearance relief, require excessively prescriptive post-forbearance repayment and impose significant legal liability.
Fannie Mae and Freddie Mac today announced a new disaster payment deferral option for servicers to offer customers
The Consumer Financial Protection bureau on Friday issued guidance for transferring mortgage servicing rights to a servicer or sub-servicer.
Fannie Mae and Freddie Mac have issued updates to their servicing guidelines for servicers working with borrowers affected by the coronavirus pandemic.
Financial regulators on Friday issued a joint policy statement granting flexibility to mortgage servicers to work with borrowers struggling as a result of the coronavirus pandemic.
The Federal Home Loan Banks’ Mortgage Partnership Finance program today released a statement outlining temporary policies to enable servicers to assist borrowers affected by the coronavirus pandemic.
The Department of Housing and Urban Development is seeking feedback on a proposed set of changes aimed at improving its foreclosure sale policies.
Violations of Regulation X–including the failure of some mortgage servicers to provide certain loss mitigation notices, providing incomplete notices or not providing notices within the time required–are among the examiner observations included in the Consumer Financial Protection Bureau latest “Supervisory Highlights” report.
In recent years, nonbanks have made major inroads into sectors like the single-family mortgage market, where they now originate more than half of loans.
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, deposits, mortgage servicing and remittances.