Adding to the significant changes in loss mitigation products and policies this year, the Consumer Financial Protection Bureau has published a proposed rule that revamps the current loss mitigation rules.
Tag: CFPB
MBA, ABA Respond to CFPB’s Mortgage Servicing Proposal
The American Bankers Association and Mortgage Bankers Association issued a joint statement in response to the Consumer Financial Protection Bureau’s proposed rule, Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties; Regulation X.
CFPB Reports on Mortgage Servicing Experiences During COVID-19 Pandemic
The most common problems distressed borrowers had during the COVID-19 Pandemic reflect difficulty accessing loss mitigation programs, the Consumer Financial Protection Bureau reported last month.
CFPB Releases RFI on Mortgage Closing Costs; MBA Shares Concerns Regarding Credit Reporting Price Increases
The American Bankers Association, Housing Policy Council and Mortgage Bankers Association issued a statement in response to the Consumer Financial Protection Bureau’s Request for Information on mortgage closing costs.
MBA Comments on the U.S. Supreme Court’s Decision in CFPB v. CFSAA
MBA President and CEO Bob Broeksmit, CMB, released a statement regarding the U.S. Supreme Court’s decision in Consumer Financial Protection Bureau v. Community Financial Services Association of America.
MBA Statement on the Biden Administration’s Housing Affordability Initiatives Warns Against CFPB Reforms on Closing Costs, Title Insurance
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Biden administration’s announcements on housing at the State of the Union address.
MBA Warns CFPB Against Unnecessary Reforms to Mortgage Rules
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Consumer Financial Protection Bureau’s (CFPB) blog post Friday morning on housing costs.
CFPB Bolsters Enforcement Efforts by States
In another effort to promote enforcement of consumer protection laws, the Consumer Financial Protection Bureau last week issued an interpretive rule that supports states’ authorities to pursue lawbreaking companies and individuals that violate provisions of federal consumer financial protection law.
FHFA Announces Mandatory Supplemental Consumer Information Form Use
The Federal Housing Finance Agency announced Fannie Mae and Freddie Mac will require lenders to use the Supplemental Consumer Information Form as part of the application process for loans that will be sold to the Enterprises.
MBA Responds to CFPB’s Proposed Rule Revising the General Qualified Mortgage Definition
Last Tuesday, the Mortgage Bankers Association commented on the Consumer Financial Protection Bureau’s proposed rule to amend its General Qualified Mortgage (QM) loan definition in Regulation Z.