On June 30, 2025, California Gov. Gavin Newsom signed a large “budget trailer” bill that will have significant consequences on the mortgage industry. In relevant part, the new law addresses foreclosures on so-called zombie...more
At the tail end of the Biden administration, the Federal Housing Administration (FHA) published Mortgagee Letter 2025-06, which was tilted Updates to Servicing, Loss Mitigation, and Claims. The 251-page mortgagee letter...more
4/18/2025
/ Biden Administration ,
Borrowers ,
Coronavirus/COVID-19 ,
FHA Loans ,
HUD ,
Loss Mitigation ,
Mortgage Servicers ,
Mortgagee Letters ,
New Regulations ,
Regulatory Agenda ,
Regulatory Reform
With the recent developments at the Consumer Financial Protection Bureau (CFPB), many mortgage lenders have been left wondering about the extent to which the CFPB will enforce federal laws governing the mortgage lending...more
3/20/2025
/ Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
ECOA ,
HOEPA ,
Homeowners ,
Homeowners Protection Act ,
Loans ,
Mortgage Insurance ,
Mortgage Lenders ,
Mortgages ,
Private Right of Action ,
RESPA ,
State Attorneys General ,
Truth in Lending Act (TILA) ,
UDAAP
Last week, the Department of Housing and Urban Development (HUD) revised multiple regulations and requirements related to servicing Home Equity Conversion Mortgages (HECMs, more commonly known as “reverse mortgages”), with...more
On June 21, 2023, the CFPB released two Data Spotlight reports focused on the Southern states, entitled “Banking and Credit Access in the Southern Region of the U.S.” and “Consumer Finances in Rural Areas of the Southern...more
On April 26, 2023, the CFPB issued an advisory opinion clarifying that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection...more