Weekly Infobyte: Servicing after the CFPB Mortgage Rules
Since the CFPB’s mortgage rules took effect, more banks are exiting servicing.
Browsing: Servicing
N.Y. State Envisions Penalties for Foreclosure Delays
Noting that the average New York state foreclosure takes more than 900 days—twice the national average—and that foreclosures account for nearly three in 10 civil cases on court dockets, the New York Department of Financial Services today recommended that the state legislature take action to speed up the foreclosure process.
FDIC to Offer Teleconference on CFPB Mortgage Rules
The FDIC will hold a teleconference for bankers on the Consumer Financial Protection Bureau’s mortgage rules on May 21.
CFPB Issues Guidance on Housing Counseling Disclosure
The Consumer Financial Protection Bureau today issued an interpretive rule intended to help lenders comply with the requirement in its mortgage servicing and high-cost mortgage rules to provide a list — shortly after a borrower applies for a mortgage — of Department of Housing and Urban Development-approved housing counselors nearby.
OCC Updates Guidance on RESPA Compliance
The OCC today updated its Comptroller’s Handbook guidance on complying with the Real Estate Settlement Procedures Act and Regulation X.