Servicers can’t slack on compliance as states step up oversight: S&P

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While the foreclosure crisis is over and federal regulators are being less assertive on enforcement actions, mortgage servicers can't let their guard down about compliance, according to Standard & Poor's. Some of the recent positive news for the “beleaguered industry” included: acting Consumer Financial Protection Bureau Director Mick Mulvaney's statements at the Mortgage Bankers Association […]

Military Lending Oversight Weakened – Air Force First Sergeant John Kim’s Story

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The Trump administration is planning to suspend routine examinations of lenders for violations of the Military Lending Act, which was devised to protect military service members and their families from financial fraud, predatory loans and credit card gouging, according to internal agency documents. If an active duty member of the military falls for a deceptive […]

Waters bill would strengthen FHFA oversight of mortgage servicers

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Rep. Maxine Waters, the ranking Democrat on the House Financial Services Committee, has introduced a bill intended to increase protections for homeowners facing possible foreclosure. The bill would increase the Federal Housing Finance Agency's oversight of mortgage servicers that conduct business with the government-sponsored enterprises Fannie Mae and Freddie Mac. Foreclosure News