Compliance & Regulation

The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data.

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.

The Federal Reserve's $2.3 trillion loan stimulus includes plans for outstanding commercial mortgage-backed securities and newly issued collateralized loan obligations.

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.

Five Democrats on the Senate Banking Committee sent a letter to Director Kathy Kraninger calling the agency's response to COVID-19 “tepid and ineffectual at best.”

Almost all California foreclosures and evictions have been put on hold for the foreseeable future.

The CARES Act does not define what a covered period is when it comes to residential mortgage borrower requests for forbearance.

A statewide stay-at-home order by Gov. Kay Ivey means evictions and foreclosures are on hold for at least a month.

Servicers' obligations to advance or temporarily absorb unpaid funds could range from $3 billion to $13 billion per month, according to Black Knight.

Finance of America Reverse agreed to pay $2.5 million to settle allegations that a company it acquired violated the False Claims Act for loans submitted for Federal Housing Administration insurance in 2010.