CFPB Issues Guidance on Residential Mortgage Transfers
The Consumer Financial Protection bureau on Friday issued guidance for transferring mortgage servicing rights to a servicer or sub-servicer.
Browsing: Servicing
Fannie, Freddie Revise Coronavirus Servicing Guidance to Reflect CARES Act Changes
Fannie Mae and Freddie Mac have issued updates to their servicing guidelines for servicers working with borrowers affected by the coronavirus pandemic.
Regulators Offer Flexibility to Servicers Offering Mortgage Forbearance Options
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.
FHLBs Issue Guidance for Mortgage Partnership Finance Program Participants
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.
HUD Proposes Changes to Foreclosure Sale Policies, Procedures
The Department of Housing and Urban Development is seeking feedback on a proposed set of changes aimed at improving its foreclosure sale policies.
CFPB Flags Lapses in Reg X Compliance After Disasters
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.
FDIC Research Shows Effect of Regulation on Nonbank Mortgage Market
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.
CFPB Flags Mortgage Servicing Issues in Latest Supervisory Highlights
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.
Compliance in 2019: What to Expect and Where to Focus
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
CFPB Releases Report on 2013 Servicing Rule
The Consumer Financial Protection Bureau today released a major report assessing its 2013 RESPA mortgage servicing rule.