The Mortgage Bankers Association, in a letter yesterday to the Consumer Financial Protection Bureau, urged the Bureau not to delay the effective date of its new General Qualified Mortgage Rule, saying the Bureau’s rationale for delaying the rule would not accomplish its stated goals nor benefit consumers.
Tag: Consumer Financial Protection Bureau
CFPB Issues Blunt Warning to Mortgage Servicers: ‘Unprepared is Unacceptable’
The Consumer Financial Protection Bureau last week warned mortgage servicers to “take all necessary steps now” to prevent a wave of avoidable foreclosures this fall.
CDC Extends National Eviction Moratorium to June 30
The Centers for Disease Control and Prevention announced yesterday an extension to the eviction moratorium further preventing the eviction of tenants who are unable to make rental payments. The moratorium that was scheduled to expire on March 31 is now extended through June 30.
CFPB: Discrimination Illegal by Lenders on Basis of Sexual Orientation, Gender Identity
The Consumer Financial Protection Bureau on Mar. 9 issued an interpretive rule clarifying that prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes sexual orientation discrimination and gender identity discrimination.
CFPB Proposes Delay of QM Final Rule Mandatory Compliance Date to Oct. 2022
The Consumer Financial Protection Bureau on Wednesday issued a notice of proposed rulemaking to delay the mandatory compliance date of the General Qualified Mortgage final rule by more than a year, from July 1 to Oct. 1, 2022.
CFPB Study: 11 Million Families at Risk of Losing Housing
With federal foreclosure moratoria slated to end June 30, the Consumer Financial Protection Bureau this week issued a report warning of widespread evictions and foreclosures, absent additional public and private action.
Anita Bush: Effective Forbearance Management for Mortgage Loan Servicers
In this article, we’ll address some of the servicer’s legal requirements and offer three keys to success intended to help servicers manage the post-forbearance process.
MBA Comment Letter Asks Level Playing Field on Consumer Access to Financial Records
The Mortgage Bankers Association submitted a comment letter Thursday to the Consumer Financial Protection Bureau, asking that a Bureau proposal on consumer access to financial records provide a level playing field for all authorized data users and promotes consumer awareness in the ways that data are accessed and used.
Kraninger Steps Down as CFPB Director
Consumer Financial Protection Bureau Director Kathy Kraninger announced her resignation on Jan. 20, paving the way for President Joe Biden’s nominee, Rohit Chopra, to take over the agency.
CFPB Issues Final Rules Clarifying Role of Supervisory Guidance, Escrow Accounts
In final actions of the Trump Administration, the Consumer Financial Protection Bureau yesterday issued two final rules. The first confirms the Bureau’s use of supervisory guidance for its supervised institutions; the second exempts certain financial institutions from establishing escrow accounts for higher-priced mortgage loans.