Handling successors in interest and periodic statements for borrowers in bankruptcy can create compliance headaches.
The CFPB’s recent mortgage servicing rules are the latest addition to the thousands of pages of servicing regulations. To help bankers, compliance professionals and mortgage lenders navigate the rules, ABA has published a members-only Reference Guide to Mortgage Servicing.
Regulatory agencies are seeking targeted ways to relieve regulatory burden, according to senior officials speaking at ABA’s Government Relations Summit this morning.
In a joint comment letter to the Federal Communications Commission this weekend, ABA and the Consumer Bankers Association urged the FCC to facilitate — not impair — important communications between lenders and borrowers of debt owed to or guaranteed by the federal government, including calls made to service federally guaranteed or insured mortgages or federal student loans.
Consumers complained most frequently about debt collection in December, according to the Consumer Financial Protection Bureau’s monthly complaint snapshot released today.
Mortgage servicing, fair lending, vendor risk management and sales practices are among top priorities, according to ABA experts.
Fannie Mae and Freddie Mac today announced new foreclosure prevention programs designed to replace the Home Affordable Mortgage Program, which expires at the end of this year.
The Consumer Financial Protection Bureau today issued a 900-page final rule amending its mortgage servicing rules.
Improving the customer experience is worth the investment for mortgage servicers, according to the 2015 J.D. Power study of consumer satisfaction with their primary mortgage servicers.
Community financial institutions have expanded their share of the mortgage servicing market since 2008, even as new servicing rules and the Basel III capital treatment of mortgage service rights have made servicing home loans more expensive, according to a study released yesterday by the Government Accountability Office.