According to the CFPB, from 2014 to 2018, Seterus failed to handle and process homeowners’ applications for loss-mitigation options. The mortgage servicer was acquired from IBM by Mr. Cooper in 2019.
Industry groups and consumer advocates have asked the CFPB to provide guidance on how lenders can affirmatively advertise to disadvantaged groups while staying in compliance with fair lending laws and regulations.
So far this year, the CFPB has brought 44 enforcement actions, with five against debt collectors. The bureau is currently juggling 30 cases, one of the largest litigation dockets in its history.
The final rule outlines the steps collectors must take to inform borrowers about an existing debt and prohibits vendors from bringing legal action over time-barred claims. But neither industry nor consumer groups are happy.
In a review report, small entities asked the CFPB to draft simple regulations to implement small business lending data collection requirements to reduce compliance burden and expand credit access.
CFPB appoints former Freddie official to head Office of Innovation; CFPB cautions against reverse mortgage scams; mortgage servicers settle with DOJ; MMC examinations.
Among the top 50 nonbank sellers in 2020, six companies have increased their GSE sales more than tenfold: CrossCountry Mortgage, Better.com, Everett Financial, Draper and Kramer, NFM and PRMG.
Like many companies in the sector, Capital Senior Living has been deeply impacted by the pandemic. The company posted a $215 million loss in the third quarter, $191 million of which it attributed to the transfer of these properties to Fannie.
RSS