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Volume 25 - Number 23

November 10, 2014

Mortgage Servicer Compliance Mixed, Supervisory Report Shows

In the first half of 2014, CFPB examiners conducted targeted reviews for compliance with the bureau’s new mortgage servicing rules and found mixed results, according to the agency’s latest supervisory highlight report. For example, the new rules require servicers to maintain policies and procedures to achieve specific objectives in areas such as loss mitigation, servicing transfers and service provider oversight. “In reviewing this area, examiners found that the policies and procedures at several servicers appeared to be reasonably designed to meet the specific objectives laid out in the rule,” said the new report. For instance, some servicers’ policies and procedures clearly outlined the ways in which they access and provide timely and accurate information. “These policies and procedures included specific ...

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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