Regulatory Oversight, Financial Institutions, Mortgage Servicers

CFPB Signals Review of Mortgage Servicing and Larger Participant Rules

Troutman Pepper Locke on 6/10/2025

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

Regulatory Review, Reformatted

Bradley Arant Boult Cummings LLP on 12/6/2021

As 2021 runs in search of what’s new, we realize that the pandemic disruption has continued through 2021. The NMLS Ombudsman Meeting was held virtually and the upcoming American Association of Residential Mortgage Regulators...more

Credit Union Client Alert – Wells Fargo Must Pay $250 Million Fine

Kaufman & Canoles on 9/14/2021

The Office of the Comptroller of the Currency (OCC) issued a $250 million civil penalty against Wells Fargo Bank, NA for flaws in the bank’s home loan loss mitigation program. In addition, the OCC issued a cease-and-desist...more

Washington Amends Mortgage Servicing Regulations

Ballard Spahr LLP on 8/7/2018

The Washington Department of Financial Institutions (DFI) amended its regulations under the Consumer Loan Act, effective September 1, 2018. Changes are made to a variety of provisions, including licensing coverage and various...more

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

Ballard Spahr LLP on 3/3/2017

On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on 8/11/2015

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more