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/

CFPB to Provide Additional Extension of Comment Period for Supplemental Notice of Proposed Rulemaking on Time Barred Debt

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for the public to comment on its Supplemental Notice of Proposed Rulemaking (NPRM) on time-barred debt disclosures.

The Consumer Financial Protection Bureau announced that it will provide an additional 60 days for the public to comment on its Supplemental Notice of Proposed Rulemaking (NPRM) on time-barred debt disclosures.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-provides-additional-extension-comment-period-supplemental-nprm-time-barred-debt/

Director Kraninger's Remarks at the Credit Union National Association Government Affairs Conference

I’m thrilled for the invitation to address members of the Credit Union National Association. Since becoming Director in December 2018, I have appreciated the cooperative relationship the Bureau has with CUNA.

I’m thrilled for the invitation to address members of the Credit Union National Association. Since becoming Director in December 2018, I have appreciated the cooperative relationship the Bureau has with CUNA.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/director-kraningers-remarks-cuna-government-affairs-conference/

Consumer Financial Protection Bureau Issues Supplemental Notice of Proposed Rulemaking on Time-Barred Debt Disclosures

The Consumer Financial Protection Bureau issued a Supplemental Notice of Proposed Rulemaking regarding the collection of time-barred debt.

The Consumer Financial Protection Bureau issued a Supplemental Notice of Proposed Rulemaking regarding the collection of time-barred debt.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-supplemental-nprm-on-time-barred-debt-disclosures/

CFPB to Host Symposium on February 26

The Consumer Financial Protection Bureau will hold a symposium on Consumer Access to Financial Records and Section 1033 of the Dodd-Frank Act on February 26, 2020.

The Consumer Financial Protection Bureau will hold a symposium on Consumer Access to Financial Records and Section 1033 of the Dodd-Frank Act on February 26, 2020.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-hosts-symposium-february-2020/

Consumer Financial Protection Bureau Issues Notice of Proposed Rulemaking on Remittance Rule

The Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) relating to the Remittance Rule (Rule).

The Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) relating to the Remittance Rule (Rule).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-issues-notice-proposed-rulemaking-remittance-rule/

Director Kraninger's Speech at CFPB Symposium on Section 1071 of the Dodd-Frank Act

Good morning. I am excited to welcome everyone to today’s symposium on Section 1071 of the Dodd-Frank Act.  

Good morning. I am excited to welcome everyone to today’s symposium on Section 1071 of the Dodd-Frank Act.  

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/director-kraningers-speech-cfpb-symposium-section-1071/

Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans

The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2020 will …

The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency today announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2020 will increase from $26,700 to $27,200.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/agencies-announce-threshold-smaller-loan-exemption-appraisal-requirements-higher-priced-mortgage-loans-2019/