Items Tagged with 'Mortgage Servicing Rule'

ARTICLES

  • CFPB giving servicers “more latitude” in dealing with borrowers in bankruptcy

    Issues final rule on communication with certain borrowers
    Mortgage servicers are about to have “more latitude” when it comes to dealing with borrowers entering or exiting bankruptcy, the Consumer Financial Protection Bureau announced Thursday. The CFPB announced a final rule relating to certain borrowers facing bankruptcy. The rule was initially released by the CFPB back in October, but now the bureau is finalizing the rule.
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  • S&P: Impact of CFPB shakeup, deregulation will be limited for mortgage servicers

    Trump administration’s changes will not undo years of heavy regulation
    Given the Trump administration’s stated mission of decreasing regulations, it’s a fairly safe bet that whoever Trump picks as CFPB director will have a vastly different view of regulation than former director Richard Cordray did. But what will the impact of that looming deregulation have on mortgage servicers? Not very much, according to a recent report from S&P Global Ratings.
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  • MBA responds to calls for comments on CFPB’s servicing rule

    Questions timing of the assessment
    The Mortgage Bankers Association responded to the Consumer Financial Protection Bureau’s request for feedback on its five-year evaluation of its mortgage servicing rule. The MBA gave its evaluation of the rule, but questioned the timing, which will not allow for feedback to the latest implementations of the rule, with don’t take effect until October this year.
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  • CFPB issues implementation date guidance to mortgage servicing rule

    Along with technical corrections
    The Consumer Financial Protection Bureau released updated guidance along with technical corrections to the final mortgage servicing rule that is set to go into effect on Oct. 19. Given the nature of the two documents released, neither will be open for comment. One key area that the CFPB does address is the industry’s concern about the rule going into effect on a Thursday. Here’s the bureau’s response.
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  • Got tough questions about the CFPB's 900-page mortgage-servicing rule?

    HousingWire gets you the answers
    Hurry! This webinar is this afternoon at 1 CST! For those wondering if the Consumer Financial Protection Bureau’s mortgage-servicing rule is published in the Federal Register yet, the answer is no. This gives the industry a little bit of extra time to digest all the details that are in the final rule. Luckily, HousingWire is hosting a Q&A expert webinar to make sure you have all the information you need to fully comply with the rule and properly conduct business.
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  • Mastered the CFPB's 900-page mortgage-servicing rule yet?

    You’ll be tested on it in a year
    Servicers have roughly a year to study and master the Consumer Financial Protection Bureau’s mortgage servicing rule. Luckily, HousingWire is bringing together two industry experts for an exclusive Q&A webinar to make sure you have all the information. Don’t miss out.
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  • CFPB issues warning to mortgage servicers: You can't hide behind bad computer systems

    Investigations found servicers' deficient technology caused harm to consumers
    The Consumer Financial Protection Bureau just fired a shot across the bow of the country's mortgage servicers after it found that some servicers are using outdated computer systems that could run them afoul of CFPB rules. "Mortgage servicers can't hide behind their bad computer systems or outdated technology," said CFPB Director Richard Cordray. "There are no excuses for not following federal rules."
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