Alston & Bird Consumer Finance ABstract

Morey Barnes Yost

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About Morey Barnes Yost

Morey Barnes Yost is a member of Alston & Bird’s Financial Services & Products Group and the Consumer Financial Services Team. She advises clients on a broad range of federal and state regulatory compliance matters relating to consumer financial services, including the Dodd–Frank Wall Street Reform and Consumer Protection Act, the Truth in Lending Act and state mortgage lending, servicing, appraisal and appraisal management company (AMC) statutes.

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CFPB and Federal Agencies Seek Comment on Proposed Automated Valuation Models Rule

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A&B Abstract: On June 21, the Consumer Financial Protection Bureau (CFPB), along with five federal regulatory agencies (Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and Federal Housing Finance Agency (FHFA) (the “Agencies”), published for public […]

States Continue Trend Supporting Remote Work for MLOs and Mortgage Company Employees

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A&B ABstract: Effective July 1, Montana will become the latest jurisdiction to codify authorization for mortgage loan originators and mortgage company employees to engage in remote work. That legislation follows a general trend over the past year – and, more so, since the early days of the COVID-19 pandemic – to allow remote operations. No […]

CFPB Issues Special Edition of Supervisory Highlights Focusing on Junk Fees

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A&B ABstract: In the 29nd edition of its Supervisory Highlights, the Consumer Financial Protection Bureau (“CFPB”) focused on the impact of so-called “junk” fees in the mortgage servicing, auto servicing, and student loan servicing industries, among others. CFPB Issues New Edition of Supervisory Highlights: On March 8, the CFPB published a special edition of its […]

New York Foreclosure Abuse Prevention Act Curtails Servicers’ Options

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A&B ABstract: Effective on approval by Governor Kathy Hochul on December 30, 2022, New York Assembly Bill 7737b – the Foreclosure Abuse Prevention Act (the “Act”) became law.  The Act is signifcant because it reverses judicial precedent that permitted a lender, after default, to undo the acceleration of a mortgage and stop the running of […]

Moving to Address Appraisal Bias, Agencies and the Appraisal Foundation Issue Updates

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A&B ABstract:  A year and a half after President Biden’s announcement of the Interagency Task Force on Property Appraisal and Valuation Equity (“PAVE”), the past weeks have seen a flurry of activity from federal agencies and the Appraisal Foundation to address issues of bias in residential property appraisal.  What should lenders, servicers, and appraisers know? […]