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
FHA, CFPB Issue New Guidance on Forbearance
The Federal Housing Administration and the Consumer Financial Protection Bureau 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.”
Federal Agencies Launch Joint Mortgage, Housing Assistance Website on Coronavirus Impact
The Consumer Financial Protection Bureau, Federal Housing Finance Agency and HUD 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.
GSEs: No Lump Sum Required at End of Forbearance
he Federal Housing Finance Agency, Fannie Mae and Freddie Mac issued announcements yesterday reiterating borrowers in forbearance with a Fannie Mae or Freddie Mac-backed mortgage are not required to repay the missed payments in one lump sum.
CFPB Issues Final Rule Raising HMDA Data Reporting Thresholds
The Consumer Financial Protection Bureau last week issued a final rule raising loan-volume coverage thresholds for financial institutions reporting data under the Home Mortgage Reporting Act.
FHFA, CFPB Announce Borrower Protection Program
The Federal Housing Finance Agency and the Consumer Financial Protection Bureau announced the Borrower Protection Program, a joint initiative that enables CFPB and FHFA to share servicing information to protect borrowers during the coronavirus national emergency.
Federal Agencies ‘Will not Criticize’ Coronavirus Loan Mods
Six federal agencies on Sunday issued a joint statement encouraging financial institutions to “work constructively” with borrowers affected by the coronavirus pandemic and said they “will not criticize” loan modifications made in a “safe and sound” manner.
CFPB Implements Advisory Opinion Program, Amends ‘Responsible Business Conduct’ Bulletin
The Consumer Financial Protection Bureau on Friday announced several Mortgage Bankers Association-recommended steps to offer clear guidance to lenders and servicers.
MBA, Trade Groups Ask Agencies to Delay Credit Risk Retention Rule
The Mortgage Bankers Association and three dozen other industry groups sent a letter Friday to federal agencies, asking them to delay a review of the federal Credit Risk Retention final rule until the Consumer Financial Protection Bureau finalizes its Qualified Mortgage definition.