ARTICLE
6 November 2020

This Week's Podcast: A Close Look At The CFPB's Mortgage-Related Exam Findings In Summer 2020 Supervisory Highlights

BS
Ballard Spahr LLP

Contributor

Ballard Spahr LLP—an Am Law 100 law firm with more than 750 lawyers in 18 U.S. offices—serves clients across industries in litigation, transactions, and regulatory compliance. A strategic legal partner to clients, Ballard goes beyond to deliver actionable, forward-thinking counsel and advocacy powered by deep industry experience and an understanding of each client’s specific business goals. Our culture is defined by an entrepreneurial spirit, collaborative environment, and top-down focus on service, efficiency, and results.
Mortgage origination and servicing continue to be a CFPB supervisory focus.
United States Finance and Banking

Mortgage origination and servicing continue to be a CFPB supervisory focus. We review the CFPB's findings involving the following areas and discuss the findings' compliance implications: redlining based on nonbank lenders' advertising practices, improper consideration of applicants' public assistance income in determining eligibility for mortgage modifications, and violations of servicing requirements relating to providing periodic statements to certain consumers in bankruptcy, force-placed insurance, escrow accounts, and servicing transfers.

Click here to listen to the podcast.

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