News & Analysis as of

Proposed Rules Coronavirus/COVID-19 Mortgage Servicers

Venable LLP

CFPB Proposes Revamping Mortgage Servicing Rules

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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

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2021

CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures - The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB...more

Sheppard Mullin Richter & Hampton LLP

CFPB April 5 Announces Foreclosure Restriction and Additional Loss Mitigation Requirements

On April 5, the Consumer Financial Protection Bureau (“CFPB”) proposed amendments to Regulation X with the effect of preventing foreclosure on certain residential mortgage loans until January 1, 2022. With a proposed...more

Goodwin

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

Goodwin on

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

Blank Rome LLP

CFPB Proposes COVID-19 Rule to Amend Its Mortgage Servicing Rule and Provide Additional Guidance Related to the Pandemic

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On April 5, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a notice of proposed rulemaking that proposes amendments to its Mortgage Servicing Rule (the “Proposed Rule”) to provide additional assistance for...more

Goodwin

CFPB Proposes Mortgage Servicing Changes; Supreme Court Weighs in on TCPA

Goodwin on

In This Issue. The Consumer Financial Protection Bureau (CFPB) continued to be active under its new leadership this week, warning mortgage servicers to prepare now for an anticipated surge of homeowners needing assistance...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

Goodwin

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

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