On April 24, 2024, the Consumer Financial Protection Bureau (CFPB) released the latest edition of its Supervisory Highlights, this time targeting so-called “junk fees” in the mortgage servicing industry. According to the...more
Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
8/5/2020
/ Bankers ,
Banks ,
Contract Terms ,
Coronavirus/COVID-19 ,
Credit Unions ,
Federal Credit Unions ,
Financial Institutions ,
Forbearance Agreements ,
Foreign Banks ,
Governor Cuomo ,
Hardship Extensions ,
Investment Property ,
Investment Trust Companies ,
Mortgage Escrow Account ,
Mortgage Interest ,
Mortgage Servicers ,
New Legislation ,
New York ,
NYDFS ,
Private Trust Companies ,
Relief Measures ,
Savings and Loan Companies ,
State and Local Government ,
State Regulators ,
Vacation Homes
On Thursday, March 19, 2020, the New York Department of Financial Services (DFS) issued new guidance to New York State Regulated and Exempt Mortgage Servicers regarding support for borrowers impacted by the novel coronavirus...more