Tag Archives: Consumer Financial Protection Bureau (CFPB)

Jerry McCoy of LoanCare examines three keys to enabling sound servicing decisions using data-driven technology.

As fears of a recession grow, it would be prudent for everyone—servicers and regulators alike—to think hard about default servicing improvements and reforms.

A group of seven banks and trade groups are taking legal action in the Eastern District of Texas, challenging the Bureau’s update to the Unfair, Deceptive, or Abusive Acts or Practices Section of its exam manual, and for potentially violating the Administrative Procedure Act.

The CFPB and state regulatory bodies are closely scrutinizing all mortgage-related fees, from the start of a loan to the ongoing servicing of the loan, to ensure compliance with the Fair Debt Collection Practices Act.

In a move to assist borrowers in times of distress, the FHFA will require mortgage servicers to obtain fair lending data on borrowers to better understand their needs throughout the life of the loan. 

The past 24-plus months have confronted the mortgage and servicing industries with challenges both daunting and immediate. DS News polled a cross-section of industry experts on what they’ve learned and where we go from here.

Settlement with mortgage lender for $22 million-plus marks the first redlining settlement that the CFPB and DOJ has reached with a non-bank entity.

New guidance from the Bureau affirms that “permissible purposes” are required to use and share credit reports and background reports by companies compiling personal data.

Timothy A. Raty of Mortgage Cadence examines the history of precise business days and observed holidays, and the importance of the recent addition of Juneteenth to the calendar.

With the CFPB turning its attention to the use of artificial intelligence within the mortgage process, Dain Ehring of Gate House Digital explains what you need to know.