Mortgage servicers and credit unions are worried that if a new California forbearance bill becomes law their bottom lines will be significantly impacted. The bill would greatly extend the forbearance period.
The Consumer Financial Protection Bureau issued a no-action letter template for mortgage servicers to use when digitizing their loss-mitigation process.
The Office of the Comptroller of the Currency last week went it alone to finalize its Community Reinvestment Act overhaul. The final rule would restore the geographic distribution test for mortgage lending.
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