The CFPB should take steps to limit the data collection burden on industry and protect data security, industry groups said in response to a request for information regarding data collections.
The CFPB, in an assessment report last week, underscored the need to resolve the status of the temporary government-sponsored enterprises “patch” under the ability-to-repay and qualified mortgage rule.
Under RESPA, servicers are generally required to consider borrowers for loss mitigation if the servicer receives a loss mitigation application at least 37 days before a scheduled foreclosure sale.
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