CFPB Confirms Original Effective Date for Final Debt Collection Rules
The CFPB recently announced that its two final rules amending Regulation F, which implements the FDCPA, will take effect on November 30, 2021, as originally... Read More
Federal Regulatory Developments
CFPB and FHFA Publish New Data from National Survey of Mortgage Originations
The CFPB and FHFA published for public use updated loan-level data that they collected through their National Survey of Mortgage Originations, which is a component... Read More
FHA Updates COVID-19 Recovery Loss Mitigation Options
On July 23, 2021, FHA published Mortgagee Letter 2021-18 (ML 2021-18), which amends its COVID-19 Loss Mitigation policies for borrowers with FHA-insured forward mortgages that... Read More
Fannie Mae Updates Uniform Legal Instruments
Fannie Mae recently published a selling guide announcement where it released updated uniform legal instruments. Lenders are required to use the updated uniform legal instruments... Read More
OCC Proposes to Rescind 2020 CRA Final Rule
The OCC recently announced that it will propose rescinding the Community Reinvestment Act (CRA) final rule it issued in May 2020, which it now believes... Read More
Agencies Issue Proposed Risk Management Guidance for Third-Party Relationships
The Federal Reserve, FDIC, and OCC have released new proposed interagency guidance on managing risks with third-party relationships. The intent of the Proposed Guidance is to... Read More
NCUA Publishes Two Final Rules
NCUA recently published two final rules. The first amends existing regulations to remove the prohibition on the capitalization of interest for loan workouts and modifications. The... Read More
CFPB Issues FCRA Tenant Screening Enforcement Compliance Bulletin
The CFPB issued an Enforcement compliance bulletin and policy guidance last month in anticipation of various COVID-19-related renter’s protections expiring. The Bureau laid out its... Read More
Financial Regulators Issue New Booklet on Financial Institutions’ Information Technology Architecture, Infrastructure, and Operations
The Federal Financial Institutions Examination Council (FFIEC) recently issued a new booklet in the FFIEC Information Technology Handbook series, replacing the “Operations” booklet, issued in... Read More
Ginnie Updates MBS Guide and Multifamily Applicant Experience Requirement
On July 28, 2021, Ginnie Mae issued All Participant Memorandum (APM) 21-03: Periodic Maintenance and Miscellaneous Announcements APM. The APM announces a number of changes... Read More
CFPB Analyzes Trends in Reported Assistance on Consumers’ Credit Records
The CFPB recently posted its second analysis in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. The analysis focuses on reported... Read More
Bank Regulators Propose Third-Party Risk Management Guidance
The FRB, FDIC, and OCC recently published and invited comments on a proposed interagency guidance document on risk management in third-party relationships. The proposed guidance... Read More
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