The legality of marketing service agreements will now depend on how the MSAs are structured and implemented. But has the bureau’s interpretation really changed?

The Community Home Lenders Association is pleased with the proposed scaled approach, which distinguishes between smaller, independent mortgage bankers and larger, more complex servicers.

One of the bills imposes new COVID-19-related forbearance obligations on mortgage servicers while the other gives the Golden State its own CFPB.

Fair lending and pandemic-related enforcement could become enforcement focal points. Penalties for wrongdoings, on the other hand, could be lower.

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.

As many COVID-19-related loan forbearance plans near their end, financial regulators are asking mortgage servicers to provide additional relief.

The CFPB fined three mortgage firms roughly $4.1 million for engaging in deceptive marketing practices.

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.