A&B Abstract: In Case You Missed It: At the recent Federal Housing Finance Agency’s Symposium on Property Insurance, CFPB Director Rohit Chopra spoke about force-placed insurance and conveyed the following message: “The CFPB will be carefully monitoring mortgage market participants, especially mortgage servicers to ensure they are meeting all of their obligations to consumers under […]
Escrow
Consumer Finance State Roundup
The pace of legislative activity during this current year can make it hard to stay abreast of new laws. The Consumer Finance State Roundup is intended to provide a brief overview of recently enacted legislation of potential interest. Between the end of July and the first week of August, two states enacted legislation of potential […]
Nevada Adopts Regulations for Licensure by Endorsement
A&B Abstract: Nevada recently adopted new regulations allow a natural person to obtain a license by endorsement to engage in business as a mortgage broker or mortgage agent, mortgage loan servicer, or escrow agent or agency, so long as such person holds a corresponding valid and unrestricted license to engage in such business in another […]
NYDFS Proposes Overhaul to Mortgage Loan Servicer Business Conduct Rules
The New York Department of Financial Services has proposed significant changes to the mortgage servicer business conduct rules found in Part 419 of the Superintendent’s Regulations. The proposed changes represent the first major changes to Part 419 since its adoption nearly 10 years ago. Some of the significant proposed changes to Part 419 include: Adding […]