Several industry and consumer groups believe the CFPB should stick with the July 1 mandatory compliance date for the new QM rules.

The new standards, which include capital requirements and corporate governance, for nonbank residential servicers may be finalized as early as May.

According to industry attorneys, a delay in implementation may provide the bureau an opportunity to propose substantive changes to the rule.

The CFPB’s warning to servicers: There is no time to waste, no excuse for in-action and no reason to be surprised by what is coming.

Despite government prohibitions, there are reports major multistate landlords are forcing people out of their homes, the two federal agencies noted.

Online self-service options can be scaled up more easily than traditional call centers, providing servicers with additional flexibility to handle spikes in homeowner requests, the bureau said.

2020 HMDA data now available; CFPB acts against debt collector.

Many industry insiders believe the reason for the delay is to prevent the Federal Trade Commission from obtaining a Republican majority when FTC Commissioner Rohit Chopra resigns to take charge at the CFPB.

Acting Director Dave Uejio expressed concerns about any business model that is dependent on consumers’ inability to repay their loans.

Unlike the first two rounds of COVID-19-related relief payments, the latest $1,400 check isn’t protected from being garnished by debt collectors.