CFPB

The CFPB has issued a pair of reports looking at the state of banking in the Southern United States and found that a lack of local access to banking options can make it harder to get competitive interest rates on mortgages, credit cards, or small business loans.

Five Star’s Legal League has published a white paper detailing how the government’s Homeowner Assistance Fund has provided relief and loss mitigation options for homeowners nationwide during the pandemic.

Five federal regulatory agencies—including CFPB, Treasury, Federal Reserve, FDIC, and National Credit Union Administration—have requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

An upcoming Five Star Institute webinar will closely examine how the nation’s small business lenders will be affected by Section 1071, and what can be done to prepare for implementation of the rule.

The Consumer Financial Protection Bureau has issued guidance to protect consumers from illegal collection tactics on so called “zombie mortgages,” since it is illegal for debt collectors to sue or even threaten to sue to collect on these debts past the statute of limitations or in other illegal fashions.

The Consumer Financial Protection Bureau announced a revised version of its Methodology for Determining Average Prime Offer Rates, used to measure and determine average rates for purposes of federal mortgage rules.

FHFA expects this rulemaking to provide increased public transparency and greater oversight and accountability of the regulated entities’ fair housing and fair lending compliance.

The Annual Five Star Government Forum is set for April 11 in Washington, D.C., bringing together mortgage servicing leadership and government agency reps to discuss the industry’s most pressing issues.

CFPB has drawn up a policy statement that provides an analytical framework to assist federal and state agencies in holding companies accountable when in violation of the law.

Under a new order from the CFPB, loans reportable under the Home Mortgage Disclosure Act will not need to be reported under the new small business lending rule.