Consumer Financial Protection Bureau (CFPB) Servicing Issues
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The CFPB's Mortgage Servicing Rules helped to standardize mortgage servicing practices and provide important consumer protections. MBA consistently advocates for clarity in guidance for its members so that they can provide consistent, equitable service to all consumers. Providing clear, unambiguous rules for mortgage servicers and recognizing the important and unique relationship between servicers and their customers is critical to ensure a fair and efficient system.
Recent MBA Activity Related to Consumer Financial Protection Bureau (CFPB) Issues
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MBA Letter to CFPB on RFI: Assist the Taskforce on Federal Consumer Financial Law
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MBA Letter to House and Senate on CARES Act Implementation
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MBA Letter to HUD on Loss Mitigation Options for Single Family Borrowers Affected by the Presidentially-Declared COVID-19 National Emergency in Accordance with the CARES Act
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Joint Letter to the Federal Banking Agencies on QRM Review - Credit Risk Retention
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MBA Letter to House Financial Services on the CREDIT Act
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Joint Letter to CFPB on Regarding the Integrated Mortgage Disclosures under RESPA and TILA
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MBA Letter to CFPB on RFI Regarding the Integrated Mortgage Disclosures under RESPA and TILA
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MBA Letter to BCFP on RFI Regarding Tech Sprints
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MBA Letter to HUD on FR-6111-P-02 HUD's Implementation of the Fair Housing Act's Disparate Impact Standard
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Joint Letter to CFPB on QM Definition Under TILA