Coronavirus News

NCUA Issues Interim Final Rule Regarding PCA Regulations Due to COVID-19

The NCUA recently issued an interim final rule to temporarily modify the prompt corrective action (PCA) regulations to help federally insured credit unions (FICUs)...

FHA Revises Standard Single Family Servicing Policies

In their latest Handbook 4000.1 Transmittal, FHA announced multiple updates, including the publication of updates to the Servicing and Loss Mitigation section (Section III)...

CFPB Proposes to Delay Effective Date of FDCPA Final Rules

The CFPB recently proposed extending the effective date of its two final rules amending Regulation F, which implements the FDCPA, to allow stakeholders affected...

CFPB Issues Notice of Proposed Rulemaking to Amend Regulation X

The CFPB recently issued a notice of proposed rulemaking and request for comment to amend Regulation X to assist borrowers affected by the COVID-19...

CFPB Issues Mortgage Servicing Compliance Bulletin

The CFPB recently issued a compliance bulletin on “Supervision and Enforcement Priorities Regarding Housing Insecurity,” stating that the CFPB will be paying attention to...

CFPB Issues Proposed Rule to Amend Regulation X

The CFPB recently issued a proposed rule and requested public comment on proposed amendments to Regulation X intended to assist borrowers affected by the...

VA Addresses Loan Repayment Relief for Borrowers Affected by COVID-19

VA Circular Letter 26-21-07 (Circular) reaffirms the Department of Veterans Affairs commitment to helping VA borrowers experiencing financial hardship caused by COVID-19.  The Circular...

Temporary Guidance for the Endorsement for FHA Insurance of Mortgages Under COVID-19 Forbearance Expires

FHA recently issued a reminder of the expiration of HUD’s temporary guidance for the endorsement of mortgages under CARES Act forbearance, which expired effective...

CFPB and FTC Issue Joint Statement on Preventing Illegal Evictions

CFPB Acting Director, Dave Uejio, and FTC Acting Chairwoman, Rebecca Slaughter, recently issued a joint statement on the agencies’ efforts to stop illegal evictions...

CFPB Encourages Financial Institutions Not to Intercept Stimulus Funds

CFPB Acting Director Dave Uejio issued a statement encouraging financial institutions and debt collectors to permit consumers to access the full value of their...

CFPB Rescinds Temporary Flexibilities and Supervisory Recommendations

Effective April 1, 2021, the CFPB is rescinding several past issuances that extended temporary, COVID-19 related flexibilities to financial institutions in the mortgage, credit...

CFPB Reports to Congress on FDCPA

On March 22, 2021, the CFPB submitted its annual report to Congress on the efforts of the CFPB and FTC during 2020 to administer...
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