CFPB Issues Interim Final Rule on Loss Mitigation Options for Homeowners Recovering from Pandemic-Related Financial Hardships

The Consumer Financial Protection Bureau (Bureau) issued today an interim final rule (IFR) that will make it easier for consumers to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage servicers to assist those …

The Consumer Financial Protection Bureau (Bureau) issued today an interim final rule (IFR) that will make it easier for consumers to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage servicers to assist those consumers.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-interim-final-rule-loss-mitigation-options-pandemic-related-financial-hardships/

CFPB Issues Interpretive Rule on Method for Determining Underserved Areas

The Consumer Financial Protection Bureau issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” fo…

The Consumer Financial Protection Bureau issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-interpretive-rule-method-determining-underserved-areas/

Consumer Financial Protection Bureau Takes Steps to Address GSE Patch

The Consumer Financial Protection Bureau issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch (GSE Patch).

The Consumer Financial Protection Bureau issued two Notices of Proposed Rulemaking to address the impending expiration of the Government-Sponsored Enterprises Patch (GSE Patch).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-steps-address-gse-patch/

Remarks by Director Kraninger During Consumer Data Industry Association Webinar

Good afternoon. Thank you, Francis, for the introduction. I appreciate the opportunity to be with you today and I look forward to the day when we all will be able to meet safely in-person once again.

Good afternoon. Thank you, Francis, for the introduction. I appreciate the opportunity to be with you today and I look forward to the day when we all will be able to meet safely in-person once again.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/remarks-director-kraninger-consumer-data-industry-association/

CFPB Takes Steps to Facilitate LIBOR Transition

The Consumer Financial Protection Bureau took steps to facilitate the transition away from LIBOR for consumers and regulated entities.

The Consumer Financial Protection Bureau took steps to facilitate the transition away from LIBOR for consumers and regulated entities.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-facilitates-libor-transition/

CFPB and State Regulators Provide Additional Guidance to Assist Borrowers Impacted by the COVID-19 Pandemic

The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors issued joint guidance to mortgage servicers to assist in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act provisions granting a right to f…

The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors issued joint guidance to mortgage servicers to assist in complying with the Coronavirus Aid, Relief and Economic Security (CARES) Act provisions granting a right to forbearance to consumers impacted by the COVID-19 pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-state-regulators-provide-guidance-assist-borrowers-covid-19/

CFPB Study Highlights Challenges Retirees Face to Meet Expenses in Early Years of Retirement

The Consumer Financial Protection Bureau released a first-of-its-kind study examining the financial resources and expenses of retirees during the first five years of retirement among Americans who retired between 1992 and 2014.

The Consumer Financial Protection Bureau released a first-of-its-kind study examining the financial resources and expenses of retirees during the first five years of retirement among Americans who retired between 1992 and 2014.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-study-challenges-retirees-face-meeting-expenses-in-early-years-retirement/

CFPB Takes Action to Help Struggling Homeowners Seeking Mitigation Efforts; Consumers Seeking Small-Dollar Loans

The Consumer Financial Protection Bureau announced that it issued two No-Action Letter (NAL) Templates under its innovation policies.

The Consumer Financial Protection Bureau announced that it issued two No-Action Letter (NAL) Templates under its innovation policies.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-helps-struggling-homeowners-seeking-mitigation-efforts-consumers-seeking-small-dollar-loans/

Director Kraninger Remarks During Financial Stability Oversight Council Meeting

Thank you, Secretary Mnuchin, for calling this meeting of the FSOC. In addition earlier this week, you convened the Financial Literacy and Education Commission.

Thank you, Secretary Mnuchin, for calling this meeting of the FSOC. In addition earlier this week, you convened the Financial Literacy and Education Commission.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/director-kraninger-remarks-financial-stability-oversight-council-meeting/

CFPB, CSBS Issue Consumer Guide on Mortgage Relief Options

To guide homeowners with federally backed loans through the process of obtaining mortgage relief, the Conference of State Bank Supervisors and the Consumer Financial Protection Bureau released a Consumer Relief Guide with borrowers’ rights to mortgage …

To guide homeowners with federally backed loans through the process of obtaining mortgage relief, the Conference of State Bank Supervisors and the Consumer Financial Protection Bureau released a Consumer Relief Guide with borrowers’ rights to mortgage payment forbearance and foreclosure protection under the federal CARES Act.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-csbs-consumer-guide-mortgage-relief-options/