Lenders, servicers and others in the housing market should work together to educate consumers on the financial impact of climate change, according to participants at a conference last week.
The bills with endorsements from the MBA marked up by a House committee didn’t garner support from Democrats, making it unlikely that they’ll be signed into law during the Biden administration.
The current loss-mitigation waterfall has dramatically reduced foreclosure liquidations, suggesting lenders could make more loans to riskier borrowers without increasing expected losses.
Complaints filed with the CFPB regarding mortgage servicing went up in the first quarter of 2024, while issues tied to mortgage originations declined. (Includes two data tables.)
According to industry attorneys, the updated rule signals that the CFPB will “increasingly encourage, and perhaps pressure, nonbanks to consent to be supervised.”