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Mortgage Servicer Communication: Strategies during the COVID-19 pandemic

https://www.consumerfinance.gov/about-us/blog/mortgage-servicer-communication-strategies-during-the-covid-19-pandemic/

Servicers are trying several techniques to reach struggling homeowners affected by the COVID-19 pandemic. Millions 0f homeowners need help understanding their options, and the volume of homeowners requesting assistance in the coming months will be increasing and good communication with their servicer will be vital.

Nearly half of mortgage borrowers don’t shop around when they buy a home

https://www.consumerfinance.gov/about-us/blog/nearly-half-of-mortgage-borrowers-dont-shop-around-when-they-buy-a-home/

We shop to find the best price for laptops or appliances, but a report of recent mortgage borrowers found that almost half of us don't shop around for a...

CFPB Releases Report on Mortgage Servicing Metrics

https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-report-on-mortgage-servicing-metrics/

Today, the Consumer Financial Protection Bureau (CFPB) published a report examining mortgage servicers’ responses to the COVID-19 pandemic. The data, collected across 16 large servicers from May through December 2021, reveal homeowners continue to face significant risks and challenges connected to working with their mortgage servicers.

Prepared Remarks of CFPB Director Richard Cordray at the Brookings Institution

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-of-cfpb-director-richard-cordray-at-the-brookings-institution/

Our first survey, performed at the beginning of last year, found that nearly half of all consumers do not shop around for a mortgage when buying a home...

CFPB Report Highlights Consumer Frustration Around Reverse Mortgages

https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-highlights-consumer-frustration-around-reverse-mortgages/

CFPB Issues Advisory Offering Tips to Borrowers on Protecting Family Members Today the Bureau released a report highlighting the top complaints for reverse...

Issue Spotlight: Solar Financing

https://www.consumerfinance.gov/data-research/research-reports/issue-spotlight-solar-financing/

Overview of the marketplace for financing residential solar panels and the consumer risks posed by solar-specific loans.

CFPB, DOJ and OCC Take Action Against Trustmark National Bank for Deliberate Discrimination Against Black and Hispanic Families

https://www.consumerfinance.gov/about-us/newsroom/cfpb-doj-and-occ-take-action-against-trustmark-national-bank-for-deliberate-discrimination-against-black-and-hispanic-families/

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), took action today to put an end to alleged redlining by Trustmark National Bank.

Figure out how much you want to spend

https://www.consumerfinance.gov/owning-a-home/prepare/figure-out-how-much-you-want-to-spend/

Before shopping for a home and mortgage, use our step-by-step guide to check your credit, assess your finances, set your budget, and more.

Get Homeowner Assistance Fund Help

https://www.consumerfinance.gov/housing/housing-insecurity/help-for-homeowners/get-homeowner-assistance-fund-help/

The Homeowner Assistance Fund (HAF) is a federal program that was intended to help homeowners who were financially impacted by COVID-19.

CFPB Report Finds Nearly Half of Borrowers Do Not Shop for a Mortgage

https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-finds-nearly-half-of-borrowers-do-not-shop-for-a-mortgage/

CFPB Releases "Owning a Home" Toolkit to Help Consumers Shopping for a Mortgage Today, the Bureau released a report finding that almost half of consumers do...

Mortgage financing options in a higher interest rate environment

https://www.consumerfinance.gov/about-us/blog/mortgage-financing-options-in-a-higher-interest-rate-environment/

With mortgage interest rates the highest they have been in 20 years, homebuyers are more likely to be offered, or seek out, alternatives to fixed-rate mortgages to help lower their monthly mortgage payments.

Seven factors that determine your mortgage interest rate

https://www.consumerfinance.gov/about-us/blog/7-factors-determine-your-mortgage-interest-rate/

Understand the key factors that affect your interest rate. Use our Explore Rates Tool to see how they may affect interest rates for loans in your area.

Mortgage data shows that borrowers could save $100 a month (or more) by choosing cheaper lenders

https://www.consumerfinance.gov/about-us/blog/mortgage-data-shows-borrowers-could-save-100-month-choosing-cheaper-lenders/

Mortgage borrowers are paying around $100 a month more depending on which lender they choose, for the same type of loan and the same consumer characteristics (such as credit score and downpayment).

Loan estimate explainer

https://www.consumerfinance.gov/owning-a-home/loan-estimate/

Use this tool to review your Loan Estimate to make sure it reflects what you discussed with the lender.

Director Cordray Remarks at the Consumer Advisory Board Meeting

https://www.consumerfinance.gov/about-us/newsroom/director-cordray-remarks-at-the-consumer-advisory-board-meeting/

I would like to thank Dr. Altley, Mississippi Valley State University, and the community of Itta Bena for hosting us so graciously. Today we are announcing...

Prepared Remarks of CFPB Director Richard Cordray at the Mortgage Bankers Association Annual Convention

https://www.consumerfinance.gov/about-us/newsroom/prepared-remarks-of-cfpb-director-richard-cordray-at-the-mortgage-bankers-association-annual-convention/

Thank you for inviting me today. As we continue to emerge from the Great Recession, the housing market is finally rebounding in many areas around the...

Issue Spotlight: Home Equity Contracts: Market Overview

https://www.consumerfinance.gov/data-research/research-reports/issue-spotlight-home-equity-contracts-market-overview/

With home equity “investment” contracts (HEIs), homeowners get cash up front in exchange for a repayment later. But HEIs can be risky.

LIBOR Transition FAQs

https://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/libor-index-transition/libor-transition-faqs/

The questions and answers below pertain to compliance with the LIBOR Transition Rule.