News & Analysis as of

Interim Final Rules (IFR) Mortgage Lenders

GeoDataVision

2025 Section 1071 Interim Final Rule: What It Says. Who is Affected. Problems Created. What Lenders Should Do

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On June 18, 2025, the CFPB published its 2025 Section 1071 Interim Final Rule. Lenders covered by the 2024 Section 1071 Interim Final Rule should know what the 2025 Rule is changing, how it affects them and what they can and...more

Ballard Spahr LLP

CFPB Extends Section 1071 Rule Compliance Dates

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As previously reported, in addressing the fact that current stays of the section 1071 small business data collection and reporting rule only apply to the applicable plaintiffs, intervenors and their members, the CFPB advised...more

Spilman Thomas & Battle, PLLC

COVID-19, the CARES Act and the Impact on Mortgage Forbearance

In response to the coronavirus pandemic, the federal government passed the CARES Act, which provides a number of protections to homeowners unable to pay their mortgages. The CARES Act prohibits any home foreclosures before...more

Ballard Spahr LLP

Federal Banking Agencies Finalize and Clarify Appraisal Deferral Rule

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As previously reported, the federal banking agencies announced an interim final rule in April 2020 due to COVID-19 that allows for appraisals and evaluations of homes and other real property to be obtained up to 120 days...more

Bradley Arant Boult Cummings LLP

CFPB Issues Interim Final Rule to Enable COVID-19 Payment Deferral Options

On May 14, 2020, shortly after the Fannie Mae and Freddie Mac COVID-19 payment deferral options were announced, we warned mortgage servicers about the legal risks associated with offering payment deferral programs to...more

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