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Ballard Spahr LLP: CFPB 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...

Troutman Sanders LLP: CFPB Proposes New Rules for Mortgage Servicers

By John C. Lynch , David N. Anthony , John F. Costello, Jr. and Virginia Bell Flynn On April 9, 2012, the Consumer Financial Protection Bureau (CFPB) announced a proposal for mortgage servicing rules that it plans to issue this summer. Richard Cordray, Director of the CFPB, stated that "for too...

Troutman Sanders LLP: CFPB Announces Plan to Implement New Rules for Mortgage Industry

By John C. Lynch , Ethan G. Ostroff and David M. Gettings The Consumer Financial Protection Bureau (CFPB) announced yesterday that it will be taking steps over the course of 2013 to focus on the mortgage industry's compliance with new consumer protections. The 2010 Dodd-Frank Act required the...