CFPB Supervision Report Highlights Risky Practices in Student Loan Servicing
Examiners Also Uncover Violations of Mortgage Servicing Laws The Bureau today issued a report highlighting illegal actions uncovered by the Bureau's...
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Prepared Remarks of CFPB Director Richard Cordray on the Flagstar Enforcement Action Press Call
Today the Bureau is taking its first enforcement action under the Bureau's new mortgage servicing rules. We are entering an order against Michigan-based...
CFPB Takes Action Against Flagstar Bank for Violating New Mortgage Servicing Rules
Today the Bureau took action against Michigan-based Flagstar Bank for violating the CFPB's new mortgage servicing rules by illegally blocking borrowers'...
CFPB Issues Bulletin to Prevent Runarounds in Mortgage Servicing Transfers
Bureau Highlights Risks in Transferring Loans Under Loss Mitigation Review Today, the Bureau is releasing a bulletin outlining expectations for mortgage...
CFPB, Federal Partners, and State Attorneys General File Order Requiring SunTrust to Provide $540 Million in Relief to Homeowners for Servicing Wrongs
Today, the Bureau, Department of Justice (DOJ), Department of Housing and Urban Development (HUD), and attorneys general in 49 states and the District of...
CFPB Releases Second Update of Exam Procedures for Mortgage Rules
Many of the new rules were directed by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules cover the various stages of a...
CFPB Finalizes April Clarifications to Mortgage Rules
Today, the Bureau finalized corrections, clarifications, and amendments to its Ability-to-Repay and mortgage servicing rules. Today's clarifications were...
CFPB Issues Proposed Modifications to Mortgage Rules
The proposal issued today would resolve questions that have been identified during the implementation process and would help the rules deliver their...
Remarks of Deputy Director Steve Antonakes at the GMU Attorneys General Education Program
As a veteran of two banking crises, I can tell you unequivocally that, in my view, consumer protection is not in conflict with safety and soundness...
CFPB Lays Out Implementation Plan for New Mortgage Rules
Both consumers and industry will win when the new rules are understood, applied, and carried out evenly and effectively. Mortgage borrowers, who have dealt...
Consumer Financial Protection Bureau Warns Mortgage Servicers About Legal Protections for Consumers When Transferring Loans
When handing over the processing of loans, mortgage servicers should not lose paperwork, lose track of a homeowner's loss mitigation plans, or hinder a...
CFPB Rules Establish Strong Protections for Homeowners Facing Foreclosure
The CFPB's mortgage servicing rules ensure that borrowers in trouble get a fair process to avoid foreclosure. Borrowers shouldn't have to worry about...
Consumer Financial Protection Bureau Report Finds Private Student Loan Borrowers Face Roadblocks to Repayment
According to the report, private student loan borrowers say they are sometimes surprised by the terms and conditions of their loans, they are given the...
CFPB Proposes Rules to Protect Mortgage Borrowers
"These proposed rules would offer consumers basic protections and put the Ôservice' back into mortgage servicing. The goal is to prevent mortgage servicers...
Consumer Financial Protection Bureau and prudential regulators issue joint guidance to address mortgage servicer practices that impact servicemembers
The guidance, which is intended to ensure compliance with applicable consumer laws and regulations, pertains to military homeowners who have received...
CFPB Outlines Borrower-Friendly Approach to Mortgage Servicing
"The mortgage servicing rules we are considering reflect two basic, common-sense principles – no surprises and no runarounds," said CFPB Director Richard...
CFPB Director Richard Cordray Statement on the Mortgage Servicing Settlement
The settlement will provide $25 billion in financial relief to distressed homeowners and establish new servicer standards of conduct.
CFPB Releases Mortgage Origination Examination Procedures
These procedures are a field guide for CFPB examiners looking at mortgage originators in both the bank and nonbank sectors of the industry.
Consumer Financial Protection Bureau Outlines Mortgage Servicing Examination Strategy
The Mortgage Servicing Examination Procedures released today by the CFPB describe the types of information that the agency's examiners will gather to...