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MCUA Comments on CFPB's Mortgage Servicing Proposed Rules

Oct
15
MCUA Comments on CFPB's Mortgage Servicing Proposed Rules

The Missouri Credit Union Association (MCUA) submitted two separate formal comment letters on the CFPB’s mortgage servicing proposed rules.  In our letters, we urged the Bureau to consider that many of the proposal requirements are outside of the statutory requirements under the Dodd-Frank Act.  We also urged the Bureau to exempt credit unions from several provisions within the proposed rules, where possible. &

Posted By Sharon Bahr read more

CFBP Mortgage Servicing Proposal Concerns

Oct
02
CFBP Mortgage Servicing Proposal Concerns

Credit Union National Association (CUNA) staff continue to draft comment letters to the Consumer Financial Protection Bureau (CFPB) concerning the proposed mortgage servicing rules that will amend Regulation Z and Regulation X.  Below are a few items contained within the proposals that may be of heightened concern for credit unions:

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Proposed Mortgage Servicing Rules Issued by CFPB

Aug
10
Proposed Mortgage Servicing Rules Issued by CFPB

The CFPB today issued two proposals to implement provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding servicing of mortgage loans.

Posted By abucaida@mcua.org read more

Interagency Mortgage Servicing Guidance Issued

Jun
30
Interagency Mortgage Servicing Guidance Issued

The Federal Reserve Board (Fed) joined together with the Consumer Financial Protection Bureau (CFPB), NCUA, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency to issue guidance relating to certain mortgage servicing practices.  Specifically, the guidance addresses risks related to military homeowners who have informed their loan servicer that they have received Permanent Change of Station (PCS) orders and who might seek assistance with their mortgage loans.

Posted By Sharon Bahr read more
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