LexisNexis® Legal Newsroom
CFPB Issues New National Mortgage Servicing Rules

by Donald C. Lampe , Jeffrey E. Jamison , and Michael B. Raines On Dec. 17, the Consumer Financial Protection Bureau (CFPB) issued the expected mortgage servicing final rules. At over 1,000 pages, the final rules will amend the Truth in Lending...

Morrison and Foerster LLP
Morrison & Foster Client Alert: FINRA Provides Early Guidance About Its Exam Priorities; Firms Should Take Notice

By Jay G. Baris, Hillel T. Cohn, Kelley A. Howes, and Daniel A. Nathan In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct...

CFPB Ability-to-Repy Rule Announcement: Nobody is Completely Satisfied with the Rule

by Ashley Hutto-Schultz and Jeffrey E. Jamison During yesterday's field hearing in Baltimore, the CFPB announced its final Ability-to-Repay (ATR) rule and hosted a panel discussion to discuss the new rule, which had not been released at the...

Timothy Raub
Bank of America to Pay $3.6B to Settle Residential Mortgage Loan Issues

CHARLOTTE, N.C. - (Mealey's) Bank of America Corp. will pay $3.6 billion to Fannie Mae and repurchase $6.75 billion in certain residential mortgage loans sold to Fannie Mae to resolve certain issues "relating to the origination, sale and delivery...

Troutman Sanders
CFPB Issues Fall 2012 Supervisory Highlights Report

On October 31, 2012, the CFPB released its first report highlighting its supervisory activity between July 2011 and September 30, 2012. Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB is authorized to supervise...