Skip to main content

CFPB Issues RFI on Guidance and Implementation

Phil Hall
Mar 30, 2018
The Consumer Financial Protection Bureau has announced that it has taken measures to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic

The Consumer Financial Protection Bureau (CFPB) has issued its latest Request for Information (RFI), this time focused on the bureau’s guidance and implementation support.
“The Bureau is seeking comments and information from interested parties to assist in assessing the overall effectiveness and accessibility of its guidance materials and activities, including implementation support,” said the CFPB in a statement. “The Bureau is also considering whether it would be appropriate to make changes to the formats, processes, and delivery methods for providing this guidance. And it is considering whether it would be appropriate to make changes to the disclaimers used on certain forms of guidance.”
Input on this RFI will begin on April 2. This is the tenth RFI issued in a new series implemented by Acting Director Mick Mulvaney, who announced a new policy to generate public input regarding the CFPB’s operational efficiency. The next RFI, on consumer education, will be issued next week.

Mar 30, 2018
Fitch Places Fannie, Freddie On Negative Ratings Watch

Ties credit rating to outcome of U.S. debt limit negotiations.

FHFA Director Strongly Defends New GSE Pricing Framework 

Tells House committee it’s “simply not true” that financially stronger borrowers are subsidizing others.

MBA CEO Criticizes Government Response To Economic Challenges

CEO Bob Broeksmit calls for sensible Regulation, clarity, and support for the mortgage industry.

Freddie Mac Updates Income Assessment Tool To Use Digital Pay Stubs

Says new capability helps lenders calculate borrower income more quickly and precisely.

MISMO Seeks Comment On Updated Closing Instructions Format

The new set of enhanced work products designed to create a common format for closing instructions. 

Fannie Mae Executes 5th Credit Insurance Risk Transfer Of 2023

Covered loan pool includes about 53,000 single-family mortgage loans with a UPB of approximately $18.1 billion.