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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CFPB Issues Warning to Mortgage Servicing Industry

April 5, 2021 By Nanci Weissgold and Anoush Garakani

A&B ABstract: On April 1, 2021, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a Compliance Bulletin and Policy Guidance (the “Bulletin”) on the Bureau’s supervision and enforcement priorities with regard to housing insecurity in light of heightened risks to consumers needing loss mitigation assistance once COVID-19 foreclosure moratoriums and forbearances end. The Bulletin […]

CSBS Proposes Prudential Standards for Servicers

December 2, 2020 By Nanci Weissgold

A&B Abstract: The Conference of State Bank Supervisors (“CSBS”) proposed regulatory prudential standards (the “Standards”) to develop a consistent regulatory structure of nonbank mortgage servicers. Comments on all aspects of the Standards are encouraged by December 31, 2020. Background: Since the financial crisis, the rapid growth of mortgage bank mortgage servicers has led regulators to […]

California Enacts Debt Collector Licensure Law

November 2, 2020 By Nanci Weissgold and Anoush Garakani

A&B Abstract: On September 25, California Governor Gavin Newsom signed into law Senate Bill 908, which, in part, enacts the California Debt Collection Licensing Act (“Act”). Effective January 1, 2022, the Act will require the licensure of persons that engage in debt collection in California with California residents. Notably, the Act also applies to entities […]

Maryland Issues Executive Order Restricting Foreclosure Actions and Prohibiting Evictions During COVID-19 Emergency

October 23, 2020 By Nanci Weissgold and Ross Speier

A&B ABstract: Maryland’s Governor has issued an Executive Order providing that until the COVID-19 state of emergency is terminated: (1) foreclosure sales will only be valid if the servicer had notified the borrower of their rights to request a forbearance, and (2) residential and commercial evictions are prohibited if the tenant can show they suffered […]

CFPB Rescinds Compliance Bulletin on Marketing Services Arrangements and Issues FAQs on RESPA Section 8

October 8, 2020 By Nanci Weissgold, Brian Johnson and Anoush Garakani

A&B ABstract: On October 7, 2020, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) rescinded Compliance Bulletin 2015-05, RESPA Compliance and Marketing Services Agreements (“Bulletin 2015-05”). In addition, the Bureau published Frequently Asked Questions (“RESPA FAQs”) on the Real Estate Settlement Procedures Act (“RESPA”) Section 8 topics in an effort to “provide clearer rules of […]