Archives For: Industry Updates
CFPB: Director Kraninger Announces Deputy Director
The Consumer Financial Protection Bureau (CFPB) Director Kathleen L. Kraninger announced that Brian Johnson will serve as deputy director.
13 May 2019
CFPB: Plan to Review Rules Under the Regulatory Flexibility Act
The Consumer Financial Protection Bureau (CFPB) published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act (RFA) and to request public input.
13 May 2019
Foreclosure Reform Bills Proposed in New Jersey
The office of New Jersey Governor Phil Murphy issued a press release outlining the approval of a package of bills aimed at improving foreclosure rates across the state. Included is A4997 (Mortgage Servicers Licensing Act), a bill that will require any person acting as a mortgage servicer to obtain a license from the Commissioner of Banking and Insurance for each main office and each branch office where business is conducted.
30 Apr 2019
NYDFS Launches Consumer Protection and Financial Enforcement Division
The New York Department of Financial Services (NYDFS) announced the appointment of Katherine A. Lemire as the executive deputy superintendent of the newly created Consumer Protection and Financial Enforcement Division.
29 Apr 2019
Mortgage Servicing Professionals Meet With HUD for Policy Discussion
DS News published an article highlighting a meeting between the National Mortgage Servicing Association’s (NMSA) Joint Federal Agency Task Force and HUD that took place in Washington, D.C.
25 Apr 2019
New Jersey Bill Aims to Allow Municipal Property Registration
S3482 was introduced in the New Jersey Senate on February 14 and has been referred to the Senate community and Urban Affairs Committee. The legislation would permit municipalities to register vacant and abandoned properties and to utilize registration fees to maintain them.
24 Apr 2019
Urban Institute: Options for Reforming the Mortgage Servicing Compensation Model
The Urban Institute published a report examining three options for the mortgage servicing compensation structure.
19 Apr 2019
Severe Storms Continue Across South
The Weather Channel issued a report outlining severe thunderstorm activity affecting portions of the southern U.S.
18 Apr 2019
Time-Barred Foreclosures and the Statute of Limitations
DS News published an article authored by Wright Finlay & Zak Partner Robert Finlay and Attorney Luke I. Wozniak. The article provides an analysis of recent Washington State case law that could directly impact mortgage servicers that attempt to foreclosures on borrowers who have previously experienced bankruptcy.
4 Apr 2019
Judicial Foreclosure Proposed in New Hampshire
HB 270 (relative to commencement of foreclosure by civil action) passed the New Hampshire House of Representatives in March and currently is making its way through the Senate. If enacted, the bill would require that mortgage foreclosures be commenced by civil actions brought in superior court and would modify the period redemption for a mortgage.
1 Apr 2019