Archives For: Industry Updates
CFPB: Policy Regarding Prohibition on Abusive Acts or Practices
The Consumer Financial Protection Bureau (CFPB) issued a policy statement providing a common-sense framework on how it intends to apply the “abusiveness” standard in supervision and enforcement matters.
24 Jan 2020
California Reportedly Launching Its Own CFPB
HousingWire published an article detailing a reported impending proposal by California Governor Governor Gavin Newsom for the state to create its own version of the Consumer Financial Protection Bureau.
9 Jan 2020
CFPB: Taskforce on Federal Consumer Financial Law Members Announced
The Consumer Financial Protection Bureau (CFPB) announced four members who will serve on its Taskforce on Federal Consumer Financial Law.
9 Jan 2020
New York Foreclosure Protection Law Signed by Governor
New York Governor Andrew Cuomo signed A.5619/S.5160 (An Act to amend the real property actions and proceedings law, in relation to the failure to raise the defense of lack of standing in a mortgage foreclosure action). The legislation amends Article 13 of the Real Property Actions and Proceedings Law to protect foreclosure court defendants by allowing more leeway to raise the defense of “standing”.
23 Dec 2019
NY Governor Signs “Zombie Property Remediation Act”
New York Governor Andrew Cuomo signed SB 5079A (Zombie Property Remediation Act). The legislation aims to permit municipalities to compel a mortgagee to either complete a mortgage foreclosure proceeding or to issue a certificate of discharge of the mortgage for any property which has been certified abandoned pursuant to article 13 of the real property actions and proceedings law.
18 Dec 2019
CFPB: Kraninger Marks First Year as Director of the Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) issued a news release highlighting the one year anniversary of Director Kathleen L. Kraninger leading the bureau.
10 Dec 2019
Top 10 States with Longest Foreclosure Timeline
ATTOM Data Solutions published an article discussing results from its recent U.S. Foreclosure Market Report.
6 Dec 2019
Freddie Mac: Reining in Reverse Occupancy
Freddie Mac published an article exploring reverse occupancy misrepresentation. Potential indicators associated with this type of fraudulent behavior are highlighted for servicer/lender reference.
3 Dec 2019
Better Predicting Mortgage Default
DS News published an article outlining a recent report from Fitch Ratings that explores mortgage default and identifies metrics that can be used to determine its likelihood.
2 Dec 2019
New York City to Combat the Problem of ‘Zombie Homes’
Curbed published an article exploring actions taken in New York designed to address issues stemming from vacant and abandoned properties, foreclosure, homelessness and an affordability crisis.
25 Nov 2019