CFPB Penalizes Freedom Mortgage and Realty Connect for Illegal Kickbacks
Lender provided incentives to Realty Connect and other brokerages in exchange for mortgage referrals
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CFPB Takes Action to Prevent Avoidable Foreclosures
Today, the Consumer Financial Protection Bureau (CFPB), jointly with other government agencies, announced a return to enforcement of critical protections for families and homeowners.
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.
Statement by CFPB Acting Director Dave Uejio on Impact of the Juneteenth National Independence Day Federal Holiday on Residential Mortgage Closings
On June 18, 2021, Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio issued the following statement on the impact of the Juneteenth National Independence Day federal holiday on residential mortgage closings.
CFPB Proposes Mortgage Servicing Changes to Prevent Wave of COVID-19 Foreclosures
The Consumer Financial Protection Bureau (CFPB) today proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire.
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.
Consumer Financial Protection Bureau Releases Assessment of TRID Mortgage Loan Disclosure Rule
Research examining changes to terms and cost of a mortgage loan during the origination process also released.
CFPB Issues Interim Final Rule on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships
The Consumer Financial Protection Bureau (Bureau) issued today an interim final rule (IFR) that will make it easier for consumers to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage servicers to assist those consumers.
Consumer Financial Protection Bureau to Assess Integrated Mortgage Disclosure Rule
The Consumer Financial Protection Bureau (Bureau) is requesting public comment on an assessment it will conduct on the TRID integrated disclosure rule (the Truth in Lending Act and Real Estate Settlement Procedures Act).
Consumer Financial Protection Bureau Publishes Assessments of Ability-to-Repay and Mortgage Servicing Rules
Consumer Financial Protection Bureau Publishes Assessments of Ability-to-Repay and Mortgage Servicing Rules.
CFPB Issues Interim Final Rule To Help Mortgage Servicers Communicate With Certain Borrowers At Risk Of Foreclosure
Bureau Also Seeks Comment on Separate Proposed Rule Modifying Timing Requirements for Bankruptcy Periodic Statements.