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.
On the latest episode of the ABA Banking Journal Podcast, community bank CEO Luanne Cundiff discusses the current state of the mortgage market and how recent regulations are affecting it.
The Consumer Financial Protection Bureau today issued a final rule related to the timing for servicers sending periodic statements to borrowers in bankruptcy.
The Consumer Financial Protection Bureau’s Consumer Advisory Board will hold two subcommittee calls in the coming weeks, both of which are open to the public.
The Federal Housing Administration today announced a new option that allows FHA-insured homeowners whose homes were damaged by recent natural disasters to remain in their homes, and also reduces losses that would otherwise negatively affect FHA’s mutual mortgage insurance fund.
ABA compliance experts break down what bankers can expect in 2018.