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Consumer Financial Protection Bureau Issues Mortgage Servicing Examination Procedures

by the Consumer Financial Services Group The Bureau of Consumer Financial Protection (CFPB) has moved forward on its plan to make mortgage servicing a priority by issuing written procedures for the agency's examinations of mortgage servicers. Although part of the CFPB's more comprehensive Supervision...

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 Act (Regulation Z) and the Real Estate Settlement...

CFPB Report Warns of Compliance and Mortgage Servicing Problems

by Jeffrey E. Jamison The CFPB released its summer 2013 “Supervisory Highlights” Report highlighting numerous mortgage servicing and compliance issues affecting both banks and non-banks. The 25-page Report, which is based on the CFPB’s supervisory activity from November 2012 to June...

Eighteen Months after Bulletin 2013-01, CFPB Issues New Guidance on Mortgage Servicing Transfers

by Karen L. Courtheoux Mortgage servicers and subservicers should consider reviewing the August 19, 2014 bulletin from the Consumer Financial Protection Bureau (CFPB) on mortgage servicing transfers to ensure compliance with the most up-to-date guidance. This bulletin replaces the February 2013...