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Mortgages › Regulatory Requirements › Consumer Financial Products

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 -
A&O Shearman

FCA publishes final rules on simplifying mortgage lending rules under the MRR

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The UK Financial Conduct Authority (FCA) has published final policy statement PS25/11, accompanied by a press release, finalising the first set of reforms under the Mortgage Rule Review (MRR). These changes aim to simplify...more

Hogan Lovells

UK Mortgage Rule Review: FCA takes first step in introducing targeted flexibilities into the regulatory framework

Hogan Lovells on

The FCA has finalised the changes that were proposed in May this year to make it easier for customers to engage with mortgage providers and make reductions to mortgage terms and remortgaging easier. This includes removing the...more

Ballard Spahr LLP

HUD Rescinds Various FHA Mortgage Loan Requirements

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Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

Holland & Knight LLP

CFPB Publishes Additional Proposals to Rescind "Unnecessary" Rules and Regulations

Holland & Knight LLP on

The CFPB continues on its path to rescind what it considers to be unnecessary regulatory guidance, with two additional proposals recently published. First, the agency published an interim final rule on May 16, 2025, to...more

Ballard Spahr LLP

CFPB rescinds 67 guidance documents

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Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents  issued since the bureau began operating in 2011....more

Ballard Spahr LLP

VA Winding Down VASP Program

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As previously reported, last year the U.S. Department of Veterans Affairs (VA) launched a Veterans Affairs Servicing Purchase (VASP) program, which VA characterized as a “last-resort tool” for VA home loan borrowers facing...more

Ballard Spahr LLP

HUD further revises servicing and claims requirements and loss mitigation options

Ballard Spahr LLP on

In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans effective...more

Troutman Pepper Locke

CFPB Announces 2025 Supervision and Enforcement Priorities

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This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released a memo to staff outlining its new supervision and enforcement priorities for 2025....more

Troutman Pepper Locke

Unlocking the Secrets of Reverse Mortgages — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Megan Burns, Jason Manning, and Punit Marwaha to explore the arcane world of reverse mortgages. They provide valuable insights about how...more

Alston & Bird

Consumer Finance State Roundup

Alston & Bird on

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from three states: Arkansas: House Bill 1184, which we expect to take effect on or about August 8, amends...more

Ballard Spahr LLP

2024 HMDA Modified Loan Application Data Published

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The CFPB has announced that Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2024 are now available on the Federal Financial Institutions Examination Council’s (FFIEC) HMDA Platform for...more

Hogan Lovells

UK Consumer Duty rule review: FCA sets out ‘targeted steps’ to simplify requirements for firms

Hogan Lovells on

Following feedback to its July 2024 Call for Input (CfI) on placing greater reliance on the Consumer Duty instead of specific rules and guidance, the FCA won’t be carrying out a wholesale Handbook review. It has instead...more

Troutman Pepper Locke

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

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In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more

Mayer Brown

Maryland Update on Licensing Guidance

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AT A GLANCE - In response to market concerns regarding licensing guidance for assignees of certain residential mortgage loans and installment loans released by the Maryland Office of Financial Regulation in January, that...more

Orrick, Herrington & Sutcliffe LLP

CFPB will reportedly continue to update Average Prime Offer Rate tables

Orrick, Herrington & Sutcliffe LLP on

On February 11, it was reported that, despite the temporary halt in the CFPB’s operations, the Bureau’s tables for the Average Prime Offer Rate (APOR) will continue to be updated weekly by the CFPB. A Bureau spokesperson...more

Sheppard Mullin Richter & Hampton LLP

Maryland Expands Licensing Requirements for Mortgage Loan Assignees

Sheppard Mullin Richter & Hampton LLP on

On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued guidance significantly expanding licensing requirements for assignees of residential mortgage loans in Maryland. The guidance stems from an April...more

Ballard Spahr LLP

HUD extends compliance date for portions of “Modernization of Engagement with Mortgagors in Default’’ rule

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The U.S. Department of Housing and Urban Development (HUD) has extended from January 1, 2025 until July 1, 2025, the compliance date for certain provisions of the department’s rule entitled “Modernization of Engagement with...more

Ballard Spahr LLP

VA proposes changes to loan reporting and guaranty loss rules

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The U.S. Department of Veterans Affairs (VA) recently proposed rules to modify the requirements for the reporting of VA guaranteed mortgage loans, and the rules regarding when the VA would assert a defense for a partial or...more

GeoDataVision

Is Fair Lending Enforcement Fair Today? Part II

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Previously, I have written about regulatory enforcement of anti-redlining regulations. I pointed out the problems and potentially misleading statistical conclusions caused by the application of what is called a “REMA” or...more

Troutman Pepper Locke

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

Troutman Pepper Locke on

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

Ballard Spahr LLP

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic

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The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more

Ballard Spahr LLP

CFPB Issues Proposed Rule Amending Mortgage Servicing Rules

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The CFPB recently issued its long-awaited proposed rule amending the mortgage servicing rules under Regulation X, with a focus on streamlining and expanding the loss mitigation procedures and foreclosure protections. The...more

GeoDataVision

The Answers to the CRA Questions Everyone is asking: What must we do on April 1?

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With April 1, 2024, the effective date for the new CRA rule fast approaching, every bank is asking what must we do on April 1? Here are the answers....more

Mayer Brown

FHA Branch Offices Could Become a Thing of the Past: HUD Finalizes Rule Eliminating Mandatory Branch Office Registration

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Federal Housing Administration (“FHA”) approved lenders and mortgagees will no longer be required to register their branch offices. The US Department of Housing and Urban Development (“HUD”) published a final rule (the “Final...more

Ballard Spahr LLP

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

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The Ohio Department of Commerce, Division of Financial Institutions is amending the rules that implement the state’s Residential Mortgage Lending Act. The Division is seeking preliminary feedback on the administrative rules,...more

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