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Mortgages › Mortgage Servicers › Consumer Financial Protection Bureau (CFPB)

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Holland & Knight LLP

New Jersey Financial Services Legislative Update

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This alert is part of Holland & Knight's Garden State Initiative, a firmwide effort to enhance coordination among attorneys, clients and professional networks with ties to New Jersey to foster greater collaboration across...more

Sheppard Mullin Richter & Hampton LLP

CFPB Terminates Two Consent Orders Addressing Overdraft Fees and Mortgage Servicing Violations

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On July 1, the CFPB terminated two separate consent orders, one involving a federal credit union and the other involving a national mortgage servicer. Both orders stemmed from 2024 enforcement actions and involved alleged...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates consent order against mortgage servicer

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On July 1, the CFPB announced that it terminated a consent order against a mortgage servicer after finding that the company had “fulfilled several obligations,” including payment of a $2 million civil money penalty and $3...more

Troutman Pepper Locke

CFPB Signals Review of Mortgage Servicing and Larger Participant Rules

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted several regulatory proposals to the Office of Management and Budget (OMB) for review. Among the rules under consideration are those related to...more

Orrick, Herrington & Sutcliffe LLP

CFPB rescinds COVID-related protections under RESPA Regulation X

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On May 16, the CFPB published a Federal Register notice withdrawing its COVID-19-era mortgage servicing protections for borrowers. The CFPB identified two reasons for rescinding this measure: first, the rule was intended to...more

Bradley Arant Boult Cummings LLP

CFPB Rescinding the 2021 COVID-19 Mortgage Servicing Final Rule

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On May 15, 2025, the Consumer Financial Protection Bureau (CFPB) filed an interim final rule in the Federal Register that will rescind its prior 2021 COVID-19 mortgage servicing final rule. The interim final rule is set for...more

Hudson Cook, LLP

The State Consumer Protection Beat: State AGs Kick Off 2025 with a String of Actions and Support for the CFPB

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The first two months of 2025 were filled with numerous consumer protection actions by state AGs against vehicle dealers and players in the mortgage space, among others. ...more

Goodwin

2024 Year in Review: Mortgage Origination and Servicing

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With the change in administration, enforcement actions at the federal level are expected to decrease, reflecting President Trump’s focus on deregulation. Indeed, during President Trump’s first term, the number of enforcement...more

Orrick, Herrington & Sutcliffe LLP

CFPB investigates “zombie” second mortgages

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On January 17, the CFPB published a blog post highlighting the resurgence of “zombie” second mortgages — instances where homeowners thought their second mortgage had been modified along with their first mortgage, discharged...more

Bradley Arant Boult Cummings LLP

CFPB’s Successor Homeowner Issue Spotlight: The Other Side of the Story

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On December 17, 2024, amid a flurry of activity by the Consumer Financial Protection Bureau (CFPB), the agency released an Issue Spotlight discussing “problems with mortgage companies” that homeowners face “after divorce or...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: CFPB’s Proposed Mortgage Servicing Rule Amendments: Understanding the Impact on Loss...

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This summer, the CFPB issued its long-awaited proposed rule amending the mortgage servicing rules under Regulation X, with a focus on loss mitigation procedures, foreclosure protections, and language access. These changes...more

Ballard Spahr LLP

CFPB’s Chopra: government must tackle spiraling refinance, homeowners’ insurance costs

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As interest rates drop, the CFPB is exploring ways to streamline mortgage rules to make the refinancing process easier and closing costs less expensive, Director Rohit Chopra said at a housing conference sponsored by the...more

Orrick, Herrington & Sutcliffe LLP

CFPB orders mortgage servicer to pay after violating 2017 order

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On August 21, the CFPB announced an administrative proceeding against a residential mortgage servicer (the respondent) for allegedly taking foreclosure actions against borrowers and preventing borrowers from leveraging...more

Hudson Cook, LLP

CFPB Takes Action Against Mortgage Servicer for Alleged Order Violations and Servicing Errors

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On August 21, 2024, the CFPB issued a Consent Order against the Company citing alleged failure to provide accurate information about loss mitigation options and improper handling of loan modifications. The Consent Order...more

Goodwin

CFPB Enters Into Consent Order With Mortgage Servicer Resolving Allegations of Improper Foreclosure Practices

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On August 21, 2024, the Consumer Financial Protection Bureau (CFPB)​ announced​ that it entered into a consent order with a​ Florida-based mortgage servicer, resolving allegations related to the mortgage servicer’s...more

Troutman Pepper Locke

CFPB Proposes Changes to Loss-Mitigation Rules Under Reg. X; Are There Loper Implications?

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On July 10, 2024, the Consumer Financial Protection Bureau issued a proposed rule that would scuttle the current Regulation X mortgage servicing procedures in favor of a system that broadly construes requests for assistance...more

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

Hudson Cook, LLP

CFPB Bites of the Month - July 2024 - The CFPB Shines Like the 4th of July

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In this month's article, we share some of our top "bites" for the prior and current month covered during the July 2024 webinar....more

Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

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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

Mayer Brown

Key Takeaways from the CFPB Proposal to Amend Regulation X Mortgage Servicing Rules

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Members of Mayer Brown’s Financial Services team summarize the main takeaways of the CFPB’s proposal to amend the Regulation X mortgage servicing rules. We focus on the proposal to amend the requirements for mortgage...more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes rule for mortgage servicing and loss mitigation

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On July 10, the CFPB proposed a rule to amend RESPA regulations originally issued in 2013 regarding the responsibilities of mortgage servicers. The rule removes the definition of “loss mitigation application” and replaces it...more

Alston & Bird

CFPB Releases Long-Awaited Proposal to Amend Regulation X Loss Mitigation Rules

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What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to borrowers...more

Troutman Pepper Locke

Highlights from the CFPB’s Spring 2024 Semi-Annual Regulatory Agenda

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The Consumer Financial Protection Bureau (CFPB or Bureau) recently released its semi-annual regulatory agenda, outlining its planned rulemaking initiatives. The CFPB releases regulatory agendas twice a year in voluntary...more

Womble Bond Dickinson

CFPB’s New Mortgage Servicing Rule: A Post-Pandemic Overhaul

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On July 10, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its long-awaited Mortgage Servicing Proposed Rule to amend Regulation X. ...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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