Consumer Finance Monitor Podcast Episode: CFPB’s Proposed Mortgage Servicing Rule Amendments: Understanding the Impact on Loss Mitigation, Foreclosure, and Language Access
The CFPB recently made filings with the Office of Management and Budget (OMB) regarding the following rules...more
On June 28, 2021, the Consumer Financial Protection Bureau (CFPB) issued a final rule to amend the mortgage servicing rules in Regulation X, which implements the Real Estate Settlement Procedures Act, to provide additional...more
This month the Consumer Financial Protection Bureau (CFPB) doubled-down on its earlier warning that the end of 2021 could see widespread foreclosures as COVID-19-related protections expire, by issuing guidance to mortgage...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
The Real Estate Settlement Procedures Act (“RESPA”) and Regulation X require that federally related mortgage loan “servicers” comply with certain loss mitigation procedures. See, e.g., 12 U.S.C. § 2605; 12 C.F.R. § 1024.41. ...more
Lenders and loan servicers need to be aware of some recent amendments to the mortgage servicing rules issued by the Consumer Financial Protection Bureau (CFPB). These amendments have revised certain requirements under RESPA...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
The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order with Meridian Title Corporation (Meridian) under the Real Estate Settlement Procedures Act (RESPA). ...more
In Baez v. Specialized Loan Servicing, LLC, 16-17292, 2017 WL 4220292 (11th Cir. Sept. 22, 2017) the Eleventh Circuit Court of Appeal recognized a limit to the requirement to the phrase “actual damages” in Section 2605 of the...more