Topic
Loss Mitigation
34 published works
Financial Services Perspectives
Winter 2020 Supervisory Highlights – CFPB’s Focus on Verbal Loss Mitigation Applications
The Consumer Financial Protection Bureau (CFPB) released the Winter 2020 edition of its Supervisory Highlights report on February 21, 2020. Among other legal violations, the CFPB noted that certain mortgage…
Financial Services Perspectives
State Law Claims Based on Student Loan Servicer’s Loss Mitigation Representations Not Preempted by the HEA, Seventh Circuit Court of Appeals Holds
By Grant A. Premo, R. Aaron Chastain
The Seventh Circuit Court of Appeals struck a blow to student loan servicers’ arguments that certain state law claims brought by borrowers are preempted under the Higher Education Act (HEA).…
Financial Services Perspectives
HUD OIG Report Could be Precursor to Increased Partial Claim Reimbursement Demands
On September 21, 2018, the Department of Housing and Urban Development (“HUD”)’s Office of Inspector General (“OIG”) completed a review of HUD’s partial claims program. In many ways, the title…
Banking & Finance Law Report
The Ohio Legislature Creates an Alternative to the Judicial Foreclosure Process for Certain Owners of Residential Property
The D.O.L.L.A.R. Deed Program for Ohio (the “Program”) was created following the passage of Substitute House Bill 303, and went into effect on September 28, 2016 in order to provide…
La Revue
“Mitigation of loss”: They did it again ! Le principe de non-aggravation du dommage
Parmi les articles marquants de l'avant-projet de réforme du droit de la responsabilité figure l’article 1263 qui consacre le principe de non-aggravation du dommage.
Financial Services Perspectives
CFPB’s New Loss Mitigation and Servicing Transfer Requirements Provide Clarity But Create Additional Compliance Challenges – Attend Part 4 of Our Webinar Series to Learn More
By Jonathan R. Kolodziej, Jason R. Bushby
A few short weeks after releasing a special edition Supervisory Highlights report that focused exclusively on mortgage servicing observations and, in particular, loss mitigation and servicing transfer issues, the CFPB…
NextGen Financial Services Report
New CFPB Mortgage Servicing and Loss Mitigation Rules to Take Effect in 2017 and 2018; New FDCPA Safe Harbor CFPB White Paper May Signal More to Come from CFPB on Loss Mitigation
By Dykema
The Consumer Financial Protection Bureau has issued yet another suite of regulatory changes related to mortgage servicing. The rules add additional protections for borrowers—and therefore increased requirements for servicers—as well…
MoFo ReEnforcement: The Enforcement Blog
CFPB Issues Guiding Principles for Loss Mitigation after HAMP
On August 2, 2016, the CFPB published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the "Guidance"), which outlines a recommended framework for new, industry-driven…
Financial Services Perspectives
CFPB Releases Guiding Principles for the Future of Loss Mitigation
The Consumer Financial Protection Bureau (CFPB) recently released new consumer protection and loss mitigation-related principles in an effort to guide mortgage servicers, investors, government housing agencies, and policymakers as the…
Consumer Finance Monitor
CFPB outlines future principles for loss mitigation
Looking forward to a post-financial crisis and post-HAMP mortgage marketplace, the CFPB has issued a document outlining principles intended to "provide a framework for discussion about the future of loss…