Archives For: Industry Updates
ATTOM: Vacant Property and Zombie Foreclosure Report
ATTOM Data Solutions released its third-quarter 2020 Vacant Property and Zombie Foreclosure Report. According to its findings, 1.5 million residential properties in the United States are vacant, representing 1.6 percent of all homes.
27 Aug 2020
New York Bill Aims to Add Lender Requirement Prior to HECM Foreclosure
A5627/S4408 has passed the New York State Legislature. The proposed legislation would require an authorized lender that seeks to foreclose upon a reverse mortgage issued under the federal home equity conversion mortgage program to provide notice to the department of financial services and to the mortgagor.
22 Jul 2020
New York Bill Aims to Require Servicer Contact Info During Foreclosure
A.6976/S.4190 has passed the New York State Legislature. The proposed legislation would require a mortgage loan servicer’s name and phone number to be included at multiple points during foreclosure proceedings.
21 Jul 2020
Freddie Mac: FHLMC Guide Bulletin 2020-29: Servicing Updates
Freddie Mac announced a number of updates relevant to servicers. Included are changes to insurance loss requirements and document custody.
15 Jul 2020
Freddie Mac: FHLMC Guide Bulletin 2020-28: Eligible Disasters and Other Servicing Guidance Related to COVID-19
Freddie Mac announced a number of updates relevant to servicers. Included is guidance related to eligible disasters and the introduction of the Disaster Payment Deferral.
15 Jul 2020
CFPB: Director Kraninger Announces Deputy Director; Additions to Executive Team
Consumer Financial Protection Bureau (CFPB) Director Kathleen L. Kraninger announced that Thomas Pahl will serve as bureau deputy director. Pahl has served as policy associate director for research, markets, and regulations since April 2018.
7 Jul 2020
Supreme Court Rules on TCPA, Robocalls
DS News published an article outlining a U.S. Supreme Court decision to invalidate a 2015 Telephone Consumer Protection Act (TCPA) amendment permitting the use of mobile phone robocalls for government-related debt collection.
6 Jul 2020
CFPB: Program Launched to Improve Compliance
The Consumer Financial Protection Bureau (CFPB) launched a pilot advisory opinion program to publicly address regulatory uncertainty in its existing regulations.
18 Jun 2020
Legislation Proposes National Land Bank Network Creation
On June 4, 2020, H.R. 7103 (To direct the Neighborhood Reinvestment Corporation with respect to the establishment of a national land bank network, and for other purposes) was referred to the House Committee on Financial Services.
16 Jun 2020
Herkimer County to Withdraw from Land Bank
The Utica Observer-Dispatch published an article discussing a recent decision by Herkimer County, N.Y., to withdraw from the Greater Mohawk Valley Land Bank.
12 Jun 2020