News & Analysis as of

Proposed Rules Coronavirus/COVID-19 Mortgage Lenders

Venable LLP

CFPB Proposes Revamping Mortgage Servicing Rules

Venable LLP on

The CFPB released its much-anticipated proposed update to the mortgage servicing rules last month that would make permanent many of the temporary servicing rules enacted in response to the COVID-19 pandemic. ...more

Ballard Spahr LLP

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic

Ballard Spahr LLP on

The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more

Perkins Coie

CFPB Proposes Mortgage Servicing Rule Changes to Prevent Foreclosures

Perkins Coie on

On April 5th, the CFPB proposed a set of rule changes intended to prevent foreclosures as emergency federal foreclosure protections expire this summer. Given that the expected surge of borrowers exiting forbearance in the...more

Manatt, Phelps & Phillips, LLP

LA County to Consider Responsible Banking Requirements Related to COVID-19 Crisis

On Tuesday, May 12, 2020, the Los Angeles Board of Supervisors will consider a “Responsible Banking” motion. Introduced by Supervisors Hahn and Kuehl, the motion requests a report from the County CEO on potential measures to...more

Bradley Arant Boult Cummings LLP

Mortgage Servicers: Keep an Eye on the CFPB’s Advice to Borrowers Impacted by COVID-19

On March 31, 2020, the CFPB posted a “Guide to coronavirus mortgage relief options,” which provides instruction to mortgage loan borrowers who may be impacted by COVID-19 on when and how to go about obtaining assistance....more

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