ABA Seeks Further Clarifications on Servicing Rule Fix
While welcoming an interim final rule issued in October to provide clarification on servicing rules, ABA today asked the Consumer Financial Protection Bureau for additional clarification on certain...
View ArticleABA Seeks Compliance Extension for Servicing Rule Amendments
ABA last week provided feedback to the Consumer Financial Protection Bureau on proposed changes to the final servicing rules for servicers sending periodic statements to borrowers in bankruptcy.
View ArticleSenate Passes Major Tax Reform Bill
After a flurry of last-minute amendments closely tracked by ABA, the Senate overnight voted to pass a sweeping tax cut and reform bill.
View ArticleHouse Passes ABA-Backed Bill Providing Relief for Smaller Mortgage Lenders
By a 294-129 vote, the House today passed a bipartisan bill that would offer relief for smaller lenders with respect to escrow and servicing practices.
View ArticleCFPB Finalizes Changes to Servicing Rule
The Consumer Financial Protection Bureau today issued a final rule related to the timing for servicers sending periodic statements to borrowers in bankruptcy. The post CFPB Finalizes Changes to...
View ArticlePodcast: The Community Bank Mortgage Business Model
On the latest episode of the ABA Banking Journal Podcast, community bank CEO Luanne Cundiff discusses the current state of the mortgage market and how recent regulations are affecting it. The post...
View ArticleABA Urges CFPB to Ensure Rules are ‘Consistent with the Law’
The Consumer Financial Protection Bureau should consider whether the rules it has written since 2011 are “consistent with the law, clear, and whether they promote the financial interests of consumers...
View ArticleABA Endorses Promontory Fulfillment Services’ Mortgage Fulfillment Solution
To enable banks to offer a full range of mortgage products, ABA has endorsed the comprehensive mortgage fulfillment solution provided by Promontory Fulfillment Services, a unit of Promontory...
View ArticleCFPB: Banks Effectively Managing ECOA Compliance Risk in Small Biz Lending
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan...
View Article10 Real Estate Finance Policy Issues to Watch in 2019
The rapid pace of change will continue in 2019, ABA policy staff project. The post 10 Real Estate Finance Policy Issues to Watch in 2019 appeared first on ABA Banking Journal.
View ArticleHow the Government Shutdown Is Affecting Mortgage Lending
With the government shutdown entering its third week, mortgage lending and servicing operations are being affected. The post How the Government Shutdown Is Affecting Mortgage Lending appeared first on...
View ArticleCFPB Releases Report on 2013 Servicing Rule
The Consumer Financial Protection Bureau today released a major report assessing its 2013 RESPA mortgage servicing rule. The post CFPB Releases Report on 2013 Servicing Rule appeared first on ABA...
View ArticleCompliance in 2019: What to Expect and Where to Focus
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance. The post Compliance in 2019: What to Expect and Where to Focus appeared...
View ArticleCFPB Flags Mortgage Servicing Issues in Latest Supervisory Highlights
The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan...
View ArticleFDIC Research Shows Effect of Regulation on Nonbank Mortgage Market
In recent years, nonbanks have made major inroads into sectors like the single-family mortgage market, where they now originate more than half of loans. The post FDIC Research Shows Effect of...
View ArticleCFPB Flags Lapses in Reg X Compliance After Disasters
Violations of Regulation X--including the failure of some mortgage servicers to provide certain loss mitigation notices, providing incomplete notices or not providing notices within the time...
View ArticleHUD Proposes Changes to Foreclosure Sale Policies, Procedures
The Department of Housing and Urban Development is seeking feedback on a proposed set of changes aimed at improving its foreclosure sale policies. The post HUD Proposes Changes to Foreclosure Sale...
View ArticleFHLBs Issue Guidance for Mortgage Partnership Finance Program Participants
The Federal Home Loan Banks’ Mortgage Partnership Finance program today released a statement outlining temporary policies to enable servicers to assist borrowers affected by the coronavirus pandemic....
View ArticleRegulators Offer Flexibility to Servicers Offering Mortgage Forbearance Options
Financial regulators on Friday issued a joint policy statement granting flexibility to mortgage servicers to work with borrowers struggling as a result of the coronavirus pandemic. The post Regulators...
View ArticleFannie, Freddie Revise Coronavirus Servicing Guidance to Reflect CARES Act...
Fannie Mae and Freddie Mac have issued updates to their servicing guidelines for servicers working with borrowers affected by the coronavirus pandemic. The post Fannie, Freddie Revise Coronavirus...
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