United States:
This Week's Podcast: A Close Look At The CFPB's Mortgage-Related Exam Findings In Summer 2020 Supervisory Highlights
06 November 2020
Ballard Spahr LLP
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Mortgage origination and servicing continue to be a CFPB
supervisory focus. We review the CFPB's findings involving the
following areas and discuss the findings' compliance
implications: redlining based on nonbank lenders' advertising
practices, improper consideration of applicants' public
assistance income in determining eligibility for mortgage
modifications, and violations of servicing requirements relating to
providing periodic statements to certain consumers in bankruptcy,
force-placed insurance, escrow accounts, and servicing
transfers.
Click here to listen to the
podcast.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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