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.
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
The Consumer Financial Protection Bureau today released a major report assessing its 2013 RESPA mortgage servicing rule.
With the government shutdown entering its third week, mortgage lending and servicing operations are being affected.
The rapid pace of change will continue in 2019, ABA policy staff project.
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, credit cards, debt collection, mortgage servicing, payday lending, and for the first time, small business lending.
To enable banks to offer a full range of mortgage products, ABA has endorsed the comprehensive mortgage fulfillment solution provided by Promontory Fulfillment Services, a unit of Promontory MortgagePath.
The Consumer Financial Protection Bureau should consider whether the rules it has written since 2011 are “consistent with the law, clear, and whether they promote the financial interests of consumers in a strong, vibrant, and innovative market that offers the variety of financial products and services that consumers want and value,” the American Bankers Association said in a comment letter to the bureau today.