The settlement between Franklin Credit Management and the Massachusetts attorney general will require the servicer to cease collecting or attempting to collect on “zombie” second liens in the state.

Fairway Independent Mortgage denied the allegations and said it determined the settlement was “the most appropriate solution.”

While impairments initially rise following a hurricane, borrowers with loans in ABS typically get back on track, according to dv01.

“Without an increase in NMLS processing fees, CSBS staff projected losses of nearly $133 million over the next decade,” CSBS said in a report in response to feedback received on the proposal.

Lenders alter practices to reduce risks associated with lending to unmapped flood risk areas, according to researchers at the New York Fed.

The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term refi as the borrower will be receiving a lower interest rate and mortgage payment and has already proven through a standard mortgage their ability to pay their loan.

The CFPB is looking into whether it’s necessary to recertify a borrower’s ability to repay a rate-term mortgage refinance, Kevin Stevens, a senior manager at the bureau, said at a Mortgage Bankers Association conference held in Washington, DC, last week.

Without an increase in NMLS processing fees, CSBS said it will incur nearly $133 million in losses over the next decade. The fee increases are poised to go into effect in March, but most industry participants won’t be impacted until fall 2025, according to CSBS.

The organization detailed the need for standards for customers with limited English proficiency.

The Securities Industry and Financial Markets Association and the Structured Finance Association have urged the U.S. Supreme Court to weigh in on the lawsuit involving the CFPB and student loan ABS.