Category Archives: Mortgage Compliance

CFPB’s Interim Final Rule | Mortgage Servicers’ Communication with Borrowers at Risk of Foreclosure

On October 4 the Consumer Financial Protection Bureau (CFPB) issued an interim final rule to give mortgage servicers more clarity surrounding communication restrictions and requirements when conveying information to borrowers. This rule, and a second proposed rule, modify previously standing mortgage servicing amendments from 2016. Under the Fair Debt Collection Practices Act passed in 2016, Read More

MBA Backs Bipartisan Flood Insurance Market Parity and Modernization Act

The House of Representatives recently voted 264-155 in favor of the Flood Insurance Market Parity and Modernization Act, which aims at increasing flood insurance options for private property owners. The bill has gathered bipartisan support, sponsored by Reps. Dennis Ross (R-Florida) and Kathy Castor (D-Florida), and even an endorsement from the Mortgage Bankers Association (MBA). Read More

National Association of Realtors to Congress on Tax Reform: “Do no harm”

On September 14th, chair of the National Association of Realtors’ Federal Taxation Committee, Iona Harrison, testified before the Senate Finance Committee on tax reform. While Harrison was adamant that the National Association of Realtors (NAR) supports tax reform, she cautioned that misguided changes to mortgage interest deductions could raise taxes for middle-class homeowners and potentially Read More

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