Consumer Finance Monitor Podcast Episode: CFPB’s Proposed Mortgage Servicing Rule Amendments: Understanding the Impact on Loss Mitigation, Foreclosure, and Language Access
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
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
On April 5, 2021, the Consumer Financial Protection Bureau (CFPB) issued a press release and proposed rule requesting public comment on proposed amendments to Regulation X which “would establish a temporary COVID-19 emergency...more
REAL PROPERTY UPDATE - Foreclosure/Loan Modification: foreclosing plaintiff was required to allege and prove default of loan modification agreement after trial court found the loan modification to be the operative...more
In a recent decision, the Eleventh Circuit (Lage v. Ocwen Loan Servicing, LLC, No. 15-15558 (11th Cir. Oct. 7, 2016)) held that a loan servicer is not required to evaluate a completed loan modification application if that...more
Looking forward to a post-financial crisis and post-HAMP mortgage marketplace, the CFPB has issued a document outlining principles intended to “provide a framework for discussion about the future of loss mitigation.” The...more
In an unmistakable warning shot to mortgage servicers, the CFPB recently issued a “Mortgage Servicing Special Edition” of its Supervisory Highlights. The CFPB also updated portions of its Mortgage Servicing Examination...more