Regulation and Compliance
Coming Up:
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans
The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information
Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.
FHFA Mandates Quarterly Fair Lending Reports
FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities.
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End
The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020
Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020
CFPB Announces New Rule To Ease Transition Out Of Forbearance
The CFPB established temporary special safeguards to ensure that borrowers have time before foreclosure to explore other options of repayment, including loan modifications and selling their home.
Impact Of Juneteenth Holiday On Residential Mortgage Closings
The CFPB is aware of concerns regarding implementation of the new Juneteenth Federal holiday as it relates to mortgage lender compliance with Truth in Lending Act.
Biden Appoints Sandra Thompson As Acting Director Of The FHFA
The White House appointed Sandra L. Thompson as acting director of the Federal Housing Finance Agency (FHFA), effective immediately. Her statement reveals that a permanent director will be confirmed in December.
The New URLA – What’s the Big Deal?
Lenders will need to update their technology stack to comply with the redesigned URLA.
MORTGAGE WOMEN
Texas State Legislators Looks To Protect Reverse Mortgage Borrowers
A Texas House Bill has been introduced to prevent false, misleading or deceptive advertising by reverse mortgage lenders.