MBA’s Bob Broeksmit issued a statement in response to the CFPB rescinding its 2024 regulation that would have established a public registry of nonbank entities subject to certain agency and court orders and withdrawing its 2023 proposal to create a registry of nonbank contract terms and conditions:
Tag: Consumer Financial Protection Bureau
Premier Member Editorial: The Compliance Gap Is Growing, and Servicers Can’t Afford to Fall In
During the pandemic, federal regulators led the charge on borrower protections. Now that they are stepping aside, servicers are navigating a fractured regulatory landscape with little federal guidance, Covius’ Jennifer Keys writes.
MBA Premier Member Editorial: A Diminished CFPB–How Will States Respond?
Asurity’s Jonas Hoerler and Diane Jenkins write that with the scaling back and refocusing of the CFPB, the financial services industry is left with uncertainty about what the future holds.
MBA Calls on CFPB to Delay Effective Dates of Registry of Nonbank Covered Persons
In light of President Trump’s “Regulatory Freeze Pending Review” executive order issued last week, the Mortgage Bankers Association asked the CFPB to postpone for 60 days the effective compliance dates for entities subject to its Nonbank Registration Regulation issued on June 3, 2024.
CFPB Reports Significant Drop in Mortgage Applications, Originations in 2023
The Consumer Financial Protection Bureau, Washington, D.C., found a significant decline in mortgage lending activities during 2023. Loan applications and originations dropped by nearly one-third from 2022.
Mortgage Servicing: Getting Reg X Reform Right is a Top Priority for Next Year
Preventing foreclosures requires active collaboration between servicers and homeowners.
Mortgage Servicing: Getting Reg X Reform Right is a Top Priority for Next Year
Preventing foreclosures requires active collaboration between servicers and homeowners.
Today: Understanding the CFPB’s Non-Bank Registry
Join MBA Education and industry experts for an overview of the Consumer Financial Protection Bureau’s new registry for non-bank covered persons.
Oct. 16: Understanding the CFPB’s Non-Bank Registry
Join MBA Education and industry experts for an overview of the Consumer Financial Protection Bureau’s new registry for non-bank covered persons.
CFPB Issues Proposed Servicing Rules Aimed at Streamlining Loss Mitigation Process–Asurity’s Diane Jenkins
As most servicers are well aware, the Consumer Financial Protection Bureau recently issued new proposed servicing rules essentially overhauling the existing loss mitigation process.