Alston & Bird Consumer Finance ABstract

Nanci Weissgold

About Nanci Weissgold

Nanci Weissgold is a Chambers-ranked, American College of Consumer Financial Services Lawyers fellow who co-leads the firm’s consumer finance practice and maintains a national practice representing consumer financial services providers in a wide array of federal and state regulatory and supervisory matters. Her clients value her pragmatism preparing for and responding to CFPB, FHA, state, and other administrative actions.

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CSBS Releases Cybersecurity Programs to Help Nonbank Financial Services Institutions Improve Cybersecurity Posture

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A&B ABstract On August 9, 2022, the Conference of State Bank Supervisors (CSBS) released two cybersecurity tools for nonbank financial services institutions to help them prepare for state cybersecurity examinations and, ultimately, improve cybersecurity maturity and protect financial institution infrastructure. These tools are designed to address key aspects of the Uniform Rating System for Information […]

GSEs to Require Mortgage Servicers to Obtain and Maintain Fair Lending Data

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A&B Abstract: On August 10, 2022, the Federal Housing Finance Agency (“FHFA”) announced that Fannie Mae and Freddie Mac (the “GSEs”) will require mortgage servicers to obtain and maintain fair lending data on their loans, beginning March 1, 2023. That same day, Fannie Mae and Freddie Mac (the “GSEs”) each issued guidance implementing the FHFA […]

NMLS Seeks Comments on Proposed Revisions to Company and Individual Disclosure Questions

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A&B Abstract: The Nationwide Multistate Licensing System & Registry (NMLS) Policy Committee is inviting comments on the NMLS Disclosure Questions Proposal. The comment period is now open and runs until August 22. Among other revisions, the proposal details suggested revisions to the disclosure questions on the Company (MU1) and Individual (MU2) forms. Proposed Revisions to […]

Georgia Amends its Residential Mortgage and Installment Loan Laws

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A&B Abstract: On May 2, 2022, Georgia Governor Brian Kemp signed HB 891 and SB 470 into law.  HB 891, effective July 1, 2022, updates various laws enforced by the Georgia Department of Banking and Finance (the “Department”) including, among other things, by amending (1) certain exemptions from licensure under the Georgia Residential Mortgage Act […]

Connecticut and Maryland Adopt Model Mortgage Servicer Prudential Standards

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A&B Abstract: On May 24, 2022, Connecticut enacted legislation that, among other things, adds financial condition and corporate governance requirements for certain licensed mortgage servicers (the “CT Standards”). In similar fashion, the Maryland Commissioner of Financial Regulation (the “Commissioner”) issued a notice of final action on March 25, 2022 adopting similar standards by regulation (the […]