CFPB

In examining laws in New York, California, Utah, and Virginia, the Bureau determined that laws covering businesses in these states are not preempted by the federal Truth in Lending Act.

The Bureau’s independent funding through the Federal Reserve was ruled to be lawful by a panel of judges in the Second Circuit Court of Appeals. After rulings by two different circuit courts, the case is expected to be heard by the Supreme Court in October.

The MBA reports that servicers’ portfolio volume in February dropped four basis points to 0.60% month-over-month, as approximately 300,000 homeowners nationwide remain in forbearance plans.

Five Star’s inaugural REO Connect event will serve as a hub for industry professionals committed to making the REO process profitable, efficient, and effective at eliminating blight from neighborhoods nationwide.

By issuing a new request for information, the Bureau is studying the business practices of data brokers, their impact on the daily lives of consumers, and whether they are all playing by the same rules.

During the pandemic, an estimated 3.2 million foreclosure starts were prevented, along with the completion of approximately 1.5 million foreclosures.

The Bureau’s new Supervisory Highlights report examines ways in which some mortgage servicers have attempted to run-up unlawful fees charged to homeowners.

The firm’s former Deputy General Counsel is promoted to new role, bringing more than 20 years of experience in residential real estate law and mortgage banking to the position.

The 13th Annual Five Star Government Forum is set for next week in our nation’s capital, bringing together mortgage servicing leadership and government agency reps to discuss the industry’s most pressing issues and work toward solutions.

The CFPB will be under the spotlight by the House Financial Services Committee at an upcoming hearing examining whether it's time to reform the Bureau.