The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more
7/25/2024
/ Borrowers ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Default ,
Financial Distress ,
Forbearance Agreements ,
Foreclosure ,
Interim Final Rules (IFR) ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgages ,
Proposed Amendments ,
Regulation X ,
Regulatory History ,
RESPA
The Consumer Financial Protection Bureau (CFPB) recently published two final rules revising its Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule). The principal purpose of these final rules is to avoid anticipated...more
Notwithstanding a pandemic-induced winnowing of legislative priorities this year, California has passed a handful of new bills to regulate discrete areas of the financial services industry, including student loan servicing,...more
9/25/2020
/ Administrative Authority ,
CARES Act ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Debt Collectors ,
FDCPA ,
Financial Services Industry ,
Forbearance Agreements ,
Governor Newsom ,
Loan Servicer ,
Moratorium ,
Mortgages ,
New Legislation ,
Ombudsman ,
Relief Measures ,
Rent ,
Rental Property ,
Rulemaking Process ,
State and Local Government ,
Student Loans
The New York Federal Reserve Bank's Alternative Reference Rates Committee (ARRC) released its recommendations on Nov. 15, 2019, regarding the London Interbank Offered Rate Index (Libor Index) fallback language for new...more
• New Jersey Gov. Phil Murphy signed Assembly Bill A-4997 into law on April 29, 2019, dramatically expanding the state's regulation of residential mortgage servicers.
• The law requires nonbank finance companies that...more
5/1/2019
/ Banking Sector ,
Banks ,
Consumer Reporting Agencies ,
Enforcement Actions ,
Financial Institutions ,
Government Entities ,
Governor Murphy ,
Licenses ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgage Servicing Rules ,
Mortgages ,
Popular ,
Truth in Lending Act (TILA)
• The State of New Jersey, on Aug. 24, 2018, enacted Assembly Bill 2035 that makes significant and important amendments (Amendments) to the Residential Mortgage Lending Act (RMLA), which had not been amended since it was...more
8/28/2018
/ Amended Legislation ,
Banking Sector ,
Financial Institutions ,
Licensing Rules ,
Mortgage Brokers ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
Reporting Requirements ,
Residential Real Estate Market ,
State and Local Government