On January 31, 2018, the U.S. Court of Appeals for the D.C. Circuit (D.C. Circuit), sitting en banc, issued its long-awaited decision in PHH Corp. v. CFPB, holding that the provision of the Dodd-Frank Act […]View More
On October 4, 2017, the Consumer Financial Protection Bureau (CFPB) issued an interim final rule amending a provision of Regulation X regarding the timing for mortgage servicers to communicate with borrowers about foreclosure prevention alternatives. On […]View More
On June 7, 2017, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order against mortgage servicer Fay Servicing, LLC (Fay), requiring Fay Servicing to pay $1.15 million to borrowers and to cease activities that […]View More
Today the United States Court of Appeals for the DC Circuit issued its long-awaited ruling in the PHH v. CFPB appeal (opinion here). LLW has written about the PHH case here and here before, and below are […]View More
On July 29, 2016, the CFPB issued a new proposed rule, which is intended to clarify and ease compliance with certain provisions of the TILA-RESPA Integrated Disclosure (TRID) rule. The proposed rule tweaks TRID in […]View More
On February 19, the Federal Reserve noticed an information collection regarding recent changes to Regulation Z. The Notice (81 Fed. Reg. 8492) explains that the Federal Reserve is planning to update Regulation Z to include […]View More
Don’t miss the Goodwin Procter team (Margaret Crockett, Michael Flynn and David Permut) at the Welcome Reception on January 9, 2016 at 6:30. Other highlights of the Winter Meeting, include: a panel presentation, moderated by […]View More
A month has passed since the new TILA-RESPA Integrated Disclosure (“TRID” or “Know Before You Owe”) requirements went into effect on October 3, 2015, and while the transition has not been completely smooth, it has […]View More
Arguably the most pressing topic at this year’s Mortgage Bankers Association’s (MBA) Regulatory Compliance Conference (held on September 20-22, 2015 in Washington, D.C.) was the implementation of the TILA-RESPA Integrated Disclosure (TRID) Rule, which will […]View More
In Hart v. FCI Lender Services, Inc., the Second Circuit made it clear that servicers should pay close attention to initial communications with borrowers upon commencing loan servicing when it determined in an August 12, […]View More
For the second time in recent weeks, the Consumer Financial Protection Bureau (CFPB) delayed the launch of the new integrated disclosures for residential mortgage loans under the Truth in Lending Act (TILA) and Real Estate […]View More
On March 9, 2015, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray held oral arguments in the first appeal of a CFPB administrative enforcement action. Both counsel for the CFPB and Respondents PHH Mortgage Corporation […]View More
