FHA and the GSEs stressed lending and servicing options for individuals facing an employment furlough.

Goals for acquisitions of purchase mortgages for low-income borrowers would be reduced under the proposal.

Mr. Cooper and all of its servicing functions will be rebranded “under the Rocket umbrella.”

"National banks may be required to comply with a wide range of state consumer financial laws," according to lawyers at the law firm of Ballard Spahr.

One servicing advisor, speaking on background, called six-month reporting a “wrong-headed idea,” adding: “It’s chaos for chaos’ sake.”

Servicers can comply with the new policies as of Oct. 1, but the mandatory compliance date was extended to Dec. 30.

"Maybe certain things would be better with a quick email ... or a text," said Sasha Hewlett, an associate vice president of secondary and capital markets at the MBA.

A pending proposal from the CFPB aims to clarify obligations imposed by the Equal Credit Opportunity Act.

The bureau found that WaFd sufficiently complied with the terms of consent orders dating to 2013 and 2020.

FHA shut down its loan review system after users reported having issues logging in.