Lender Reps Provide Data, Suggest Principles To Guide CFPB Mortgage Servicing Rulemaking
June 14, 2012
Mortgage industry officials are anxious about the Consumer Financial Protection Bureaus upcoming rulemaking on mortgage servicing and have provided some empirical data and a number of principles they think the bureau ought to follow. The American Bankers Association recently provided the CFPB with excerpts from its annual real estate survey to influence the CFPBs determination as to whether it should exempt, in whole or in part, certain categories of servicers or servicing arrangements from the bureaus upcoming servicing requirements. Of the 186 banks that participated, roughly 86 percent had assets of...