News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Consumer Financial Products Loan Modifications

Hudson Cook, LLP

CFPB Takes Action Against Mortgage Servicer for Alleged Order Violations and Servicing Errors

Hudson Cook, LLP on

On August 21, 2024, the CFPB issued a Consent Order against the Company citing alleged failure to provide accurate information about loss mitigation options and improper handling of loan modifications. The Consent Order...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2022

Headlines: CFPB Reminds Credit Bureaus and Furnishers of Their Obligations to Investigate Disputes The CFPB has issued guidance on the obligations of both credit bureaus and furnishers of consumer credit information,...more

Goodwin

CFPB Proposes Amendments to Regulation X to Prevent Wave of COVID-19 Foreclosures

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On April 5, 2021, the Consumer Financial Protection Bureau (CFPB) issued a press release and proposed rule requesting public comment on proposed amendments to Regulation X which “would establish a temporary COVID-19 emergency...more

McGlinchey Stafford

Credit Reporting During a Pandemic

McGlinchey Stafford on

Alert May 18, 2020 The economic impact of COVID-19 has already proven catastrophic for many businesses and consumers. Many employers are reducing their staffing or closing their doors permanently. As of May 8, 2020, the...more

Ballard Spahr LLP

CFPB May 2017 complaint report highlights complaints from older consumers

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The CFPB has issued its May 2017 complaint report highlighting complaints from “older consumers,” who the CFPB defines as consumers who voluntarily reported their age as 62 or older.  The CFPB reports that consumers...more

Ballard Spahr LLP

CFPB Highlights Mortgage Servicing Examination Findings and Technology Issues

Ballard Spahr LLP on

In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination...more

Goodwin

Potential PMI Pitfall: Recalculating PMI Termination Date After Loan Modification May Lead to Litigation Exposure

Goodwin on

In August, the CFPB issued a compliance bulletin to clarify lenders’ obligations to terminate Private Mortgage Insurance (PMI) charges under 12 U.S.C. § 4902. One subject that the bulletin did not address—but which is...more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

Carlton Fields on

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Ballard Spahr LLP

CFPB Highlights Mortgage Complaints in Third Monthly Complaint Report

Ballard Spahr LLP on

The CFPB has issued its September 2015 complaint report, the third in its new series of monthly complaint reports. The new report spotlights mortgage complaints and complaints from consumers in the Denver, Colorado, metro...more

Ballard Spahr LLP

CFPB highlight mortgage complaints in third monthly complaint report

Ballard Spahr LLP on

The CFPB has issued its September 2015 complaint report, the third in its new series of monthly complaint reports. The new report spotlights mortgage complaints and complaints from consumers in the Denver, Colorado metro...more

Goodwin

No Summer Vacation for Student Lending Companies as Enforcement Activity Continues

Goodwin on

Student lending continues to remain in the crosshairs of federal and state consumer finance regulators during the summer months, with over five enforcement actions and investigations in recent weeks. As covered in both...more

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