Skip to main content

Newsroom

Date range
Clear filters
556 filtered results
Category: Press release |
Published

CFPB Report: Renters at Risk as COVID-19 Safety Net Ends

The Consumer Financial Protection Bureau (CFPB) today released a report warning that millions of renters and their families may suffer previously avoided economic harms of the COVID-19 pandemic as federal and state relief programs end. The report, “Financial conditions for renters before and during the COVID-19 Pandemic,” finds that some government relief efforts likely helped maintain the financial stability of renters and their families, suggesting that many may be at risk as those programs expire.

Category: Press release |
Published

Mortgage refinance loans drove an increase in closed-end originations in 2020, new CFPB report finds

A new Home Mortgage Disclosure Act (HMDA) data report on residential mortgage lending trends released today by the Consumer Financial Protection Bureau finds that the total number of closed-end originations as well as applications increased substantially between 2019 and 2020.

Category: Press release |
Published

CFPB Report: Mortgage Servicers’ Pandemic Response Varies Significantly

The Consumer Financial Protection Bureau (CFPB) today published a report detailing 16 large mortgage servicers’ COVID-19 pandemic response. The report’s data metrics include call handling and loan delinquency rates, and they highlight the industry’s widely varied response to the pandemic.

Category: Press release |
Published

CFPB Issues Interpretive Rule on Certain Mortgage and Disclosure Timing Requirements for the 2021 Juneteenth Federal Holiday

The Consumer Financial Protection Bureau (CFPB) today released an interpretive rule to assist the mortgage industry in determining whether to treat June 19, 2021, as a federal holiday or a business day for purposes of compliance with certain time-sensitive borrower protections.

Category: Press release |
Published

CFPB Report Highlights Supervisory Findings of Wide-Ranging Violations of Law in 2020

The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting legal violations identified by the Bureau’s examinations in 2020. The report also highlights prior CFPB supervisory findings that led to public enforcement actions in 2020 resulting in more than $124 million in consumer remediation and civil money penalties.

Category: Press release |
Published

CFPB Issues Rules to Facilitate Smooth Transition as Federal Foreclosure Protections Expire

The Consumer Financial Protection Bureau (CFPB) today finalized amendments to the federal mortgage servicing regulations to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out and which will help protect mortgage borrowers from unwelcome surprises as they exit forbearance.

Category: Press release |
Published

CFPB Compliance Bulletin Warns Mortgage Servicers: Unprepared is Unacceptable

The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. Millions of homeowners currently in forbearance will need help from their servicers when the pandemic-related federal emergency mortgage protections expire this summer and fall. Servicers should dedicate sufficient resources and staff now to ensure they are prepared for a surge in borrowers needing help. The CFPB will closely monitor how servicers engage with borrowers, respond to borrower requests, and process applications for loss mitigation. The CFPB will consider a servicer’s overall effectiveness in helping consumers when using its discretion to address compliance issues that arise.

Category: Press release |
Published

CFPB Rescinds Series Of Policy Statements To Ensure Industry Complies With Consumer Protection Laws

The Consumer Financial Protection Bureau (CFPB) announced today it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in various consumer financial markets, including the mortgage, credit reporting, credit and prepaid card markets. The seven rescissions, effective as of April 1, 2021, provide guidance as to how financial institutions should now comply with various consumer financial laws and regulations.