Michael Bright: “SFA reiterates our support for the ultimate goal of releasing the GSEs from conservatorship and to increase the role of private capital in our nation’s housing finance system in a responsible manner"...
Much of the conversation over the past few weeks following the election of Joe Biden to the White House has focused on the bureau’s mortgage-related actions.
The changes under the final debt collection rule, such as call frequency limitations, will impact the operation of certain mortgage servicers who are now deemed FDCPA debt collectors.
Mortgage trade groups are asking the CFPB to expressly permit servicers, in the case of escrow shortage, to include a lump-sum repayment option in account statements.
One of Seila Law’s arguments was that the CID cannot be ratified because the applicable three-year statute of limitations had expired. The court, however, said the time bar only applies to lawsuits.
For 2021, the appraisal exemption threshold for higher-priced mortgages remains unchanged at $27,200, according to a joint announcement by the CFPB, the Federal Reserve Board and the OCC.
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