Ocwen Financial has agreed to pay $5.2 million to Florida regulators to settle allegations it engaged in abusive servicing practices. A similar case filed by the CFPB against the nonbank is pending.
With the initial 180-day forbearance plans coming to an end, Sen. Sherrod Brown, D-OH, is urging the CFPB to ensure borrowers are not victims of improper foreclosure practices.
The Community Home Lenders Association is pleased with the proposed scaled approach, which distinguishes between smaller, independent mortgage bankers and larger, more complex servicers.
Under Operation Corrupt Collector, the CFPB in September filed a lawsuit against five debt-collection companies for engaging in threatening and abusive practices.
Significant structural changes at the CFPB under the Trump administration; CSBS allows consumer gripes on its examination platform; Ed Pinto complains about the QM patch.
But the scope of the proposal amended in mid-August is much narrower than the original, exempting existing state licensees, including mortgage lenders and servicers, from the California Consumer Financial Protection Law.
California’s plan to create a state-level CFPB back on the table; NCLC calls for prohibition of collection of all time-barred debts; Mr. Cooper nears settlement with the CFPB.
The CFPB issues interpretive rule for determining "underserved areas" under Regulation Z; the CFPB and the OCC to host joint, virtual innovation office hours on July 29 and 30.
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