The Community Home Lenders Association is pleased with the proposed scaled approach, which distinguishes between smaller, independent mortgage bankers and larger, more complex servicers.
The appeals court ruled that Freedom Mortgage, as a buyer of mortgage servicing rights, is liable for a missed property tax payment, even though the obligation remains with the original owner for a short period of time under the purchase agreement.
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.
The Independent Community Bankers of America said it plans to collaborate with the CFPB to test certain community bank-inspired improvements to the TRID rule through the trial disclosure “sandbox” program.
The ruling partially lifts the cloud surrounding a 2015 ruling over the valid-when-made doctrine, providing banks with legal arguments to defend their securitization trusts against state usury laws.
The rescission of the bulletin does not mean MSAs are presumably legal. Instead, it will depend on how the business relationship is structured and implemented.