The Community Home Lenders Association is pleased with the proposed scaled approach, which distinguishes between smaller, independent mortgage bankers and larger, more complex servicers.
Need help from the CFPB on RESPA? Maybe not. A lack of specific rules, in fact, has enabled innovation in how settlement service providers interact with each other and refer customers.
While Republicans and Democrats continue to bicker over a second COVID relief package, industry groups warned that further halting of negative credit reporting may be disruptive to the market.
Democratic lawmakers believe the federal preemption asserted by the OCC will undercut state and local agencies’ efforts to protect homeowners from foreclosures.
The CFPB is devoting half of its supervisory resources to assessing industries that pose the most risks to consumers during the pandemic, including mortgage servicing.
A recently issued interim final rule allows mortgage servicers to offer certain COVID-19-related loss-mitigation assistance without a complete borrower application.