Sen. Deb Fischer, R-Neb., reintroduced legislation this week that would change the structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission of five individuals.
Tag: Consumer Financial Protection Bureau
FCRA and the CARES Act: Putting in Right Procedures Now, Reducing Volume of Litigation Later
Over the past 10 years, Fair Credit Reporting Act lawsuits have almost quadrupled from some 1,350 cases in 2010 to 5,000 in 2019. FCRA allows plaintiffs to recover attorney fees, which may explain the increase.
FCRA and the CARES Act: Putting in Right Procedures Now, Reducing Volume of Litigation Later
Over the past 10 years, Fair Credit Reporting Act lawsuits have almost quadrupled from some 1,350 cases in 2010 to 5,000 in 2019. FCRA allows plaintiffs to recover attorney fees, which may explain the increase.
FCRA and the CARES Act: Putting in Right Procedures Now, Reducing Volume of Litigation Later
Over the past 10 years, Fair Credit Reporting Act lawsuits have almost quadrupled from some 1,350 cases in 2010 to 5,000 in 2019. FCRA allows plaintiffs to recover attorney fees, which may explain the increase.
FHA, CFPB Issue New Guidance on Forbearance
The Federal Housing Administration and the Consumer Financial Protection Bureau yesterday each announced new policies to assist mortgage borrowers impacted by the economic effects of the coronavirus pandemic.
California County Ends Controversial PACE Loan Program
Forget the coronavirus—if you want to raise the blood pressure of a mortgage lender or servicer, just say these two words: “PACE loan.”
California County Ends Controversial PACE Loan Program
Forget the coronavirus—if you want to raise the blood pressure of a mortgage lender or servicer, just say these two words: “PACE loan.”
Industry Briefs
Black Knight, Jacksonville, Fla., said its McDash Flash Forbearance Tracker, as of May 19, reported 4.75 million homeowners – or 9.0% of all mortgages – have entered into COVID-19 mortgage forbearance plans. Active forbearance volumes increased by just 93,000 over the past week, a more than 70% decline from the 325,000 from the first week of May.
Industry Briefs – May 21, 2020
ACES Risk Management (ARMCO), Denver, released ACESXPRESS for Early Payment Defaults to bolster lenders’ existing audit programs in light of the recent increases in required monthly EPD audit volume.
Federal Agencies Launch Joint Mortgage, Housing Assistance Website on Coronavirus Impact
The Consumer Financial Protection Bureau, Federal Housing Finance Agency and HUD yesterday launched a new mortgage and housing assistance website designed to ensure homeowners and renters have current and accurate housing assistance information during the COVID-19 national emergency.