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CFPB Releases Loss Mitigation Principle

Document outlines their principles to provide a framework for discussion about the future of loss mitigation.

CFPB Releases Report on Mortgage Servicing Problems

A CFPB report details mortgage servicing problems at banks and other institutions. Many of the issues the report uncovers are harmful to consumers.

FHFA Issues New Standard Short Sale Guidelines

The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are issuing new guidelines to their mortgage servicers to standardize short sale practices that will go into effect Nov. 1.

CFPB Issues Proposed Mortgage Servicing Rules

The CFPB issued two notices of proposed rulemaking designed to protect homeowners from surprises and mistakes made by mortgage servicers. The two notices contain nine specific provisions regarding mortgage lending.

New Oregon Attorney General Announces Mortgage Rules

Considered a victory for credit unions because there are no new regulatory burdens, Oregon’s AG Rosenblum adopts new rules to clarify conduct that violates the state’s Unlawful Trade Practices Act.

Oregon Department of Justice Issues Mortgage Servicing Rule

The Oregon Department of Justice issued a temporary rule that covers anyone engaged in mortgage loan servicing in Oregon, including lenders, servicers and servicing agents. The rule took immediate effect upon being issued on Jan. 27.