Coronavirus News

CFPB Director Addresses Consumer Complaints Amidst COVID-19

CFPB Director Kraninger recently delivered remarks during a Consumer Data Industry Association webinar addressing a record-high number of consumer complaints received by the Bureau,...

FHA Updates Quality Control Requirements Due to COVID-19

On June 22, 2020, the Federal Housing Administration (FHA) announced several policy changes to provide mortgagees greater flexibility during the COVID-19 pandemic.  These policy...

WBK Chart of State Regulator Communications

WBK continues to update its chart of coronavirus-related communications from state mortgage regulators, for use in our state licensing practice.  It is available on this...

CFPB to Temporarily Permit Servicers to Offer COVID-19 Loss Mitigation Options Based on Incomplete Loss Mitigation Applications

On June 23, 2020, the CFPB issued an interim final rule (IFR) that provides that mortgage servicers will not violate Regulation X by offering...

CFPB Issues FAQs on Consumer Reporting and the CARES Act

The CFPB recently issued a set of Frequently Asked Questions relating to its earlier Policy Statement providing guidance for furnishers under the Fair Credit...

CFPB Provides Flexibility to Credit Card Issuers in Response to COVID-19 Pandemic

The CFPB recently issued a statement announcing that during the COVID-19 pandemic it will provide flexibility to credit card issuers regarding the E-Sign Act’s...

Freddie Mac Issues Temporary COVID-19 Servicing Guidance

Freddie Mac recently issued guidance to help servicers navigate working with borrowers impacted by COVID-19. Bulletin 2020-21 provides servicers with updated COVID-19 Payment Deferral...

Federal Reserve to Resume Examination Activities

The Federal Reserve recently announced that it is resuming its examination activities for all supervised institutions.  Examinations will be conducted offsite until conditions improve...

Federal Reserve Expands Main Street Lending Program

The Federal Reserve Board (FRB) has made changes to its forthcoming Main Street Lending Program in an effort to provide support to a wider...

HUD Endorsement of Loans Under COVID-19 Forbearance

Pursuant to Mortgagee Letter 2020-16, as of June 15, 2020, and through November 30, 2020, HUD is permitting mortgagees to submit forward mortgage loans...

Fannie Mae Updates Guidance on COVID-19 Payment Deferral

On May 27, 2020, Fannie Mae updated Lender Letter 2020-07 (LL-2020-07), which outlines Fannie Mae’s previously-announced payment deferral plan that it jointly developed with...

Freddie Mac Issues Bulletin 2020-19 Regarding Selling Guidance Related to COVID-19

Freddie Mac recently issued Bulletin 2020-19 to address the ongoing economic implications and uncertainty related to the COVID-19 pandemic and impacts on borrowers, sellers,...
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