Loan servicers currently operate between a rock and a hard place. Borrowers want high-quality service. Regulators demand that products and services are provided fairly and equitably.

On July 15th, the Consumer Financial Protection Bureau (CFPB) filed suit against a non-bank lender based in Chicago, alleging violations of the Equal Credit Opportunity Act (ECOA); its implementing regulation, Regulation B; and the Consumer Financial Protection Act (CFPA).

RiskExec adds Fair Servicing into its leading reporting and analysis platform for HMDA, CRA, and Fair Lending.

The CFPB announced two separate notices of proposed rulemaking to address the coming expiration of TILA qualified mortgage (QM) status for the ‘GSE Patch.

The CFPB recently published two Factsheets outlining lender obligations under the Equal Credit Opportunity Act (ECOA) Valuations Rule.

Asurity announced on June 29, 2020 the immediate integration of the 2019 Home Mortgage Disclosure Act (HMDA) National Snapshot LAR files made available by the Consumer Financial Protection Bureau (CFPB) on Wednesday, June 24, into its RiskExec platform.

With COVID-19 still top of mind for most, lenders cannot afford to assume that concerns of fair lending compliance will fade away.

On April 22nd, MISMO announced a certification program for remote online notarization providers, designed to increase adoption of RON-enabled digital mortgage closings.

On March 27th, the CFPB issued a public request for information (RFI) to obtain input on areas where it should focus its research and analysis. The comment period ends on June 1, 2020.

Our colleagues discuss mortgage loan forbearance activity in light of COVID-19 and suggest some approaches to prepare and execute on the potential flood of loan modifications to come.