Debt collectors collecting on already-paid medical bills, bills that contain false or incorrect medical charges or bills that exceed federal and state limits are in violation of the Fair Debt Collection Practices Act, the CFPB reminded servicers.
Additional guidance on nonbank registry; student loan ABS settle with CFPB; mortgage servicers file appeal; CFPB releases webpage for open banking standard setter applications; inflation adjustment for higher-priced mortgages.
Industry players had raised concerns that the original proposal would have been too broad and included misconduct that didn’t affect safety and soundness.
Newly published comment letters show that housing and community advocacy groups support FHFA’s plan to use member incentive programs to encourage more mission-oriented lending by the FHLBanks.
Researchers compared the performance of borrowers with a credit score from FICO 10 T with previously unscoreable borrowers who are given a score based solely on traditional credit bureau data.
Because deposits at the Federal Reserve don’t earn interest, FHLBanks’ use of IBDAs at large banks with high credit has expanded over the last few years. FHFA wants to give those deposits a capital treatment equivalent to that given to overnight Fed funds sales.
The GSEs will expand eligibility for loan modifications by revising mark-to-market LTV ratio-based requirements and using a step-by-step process until the borrower’s P&I payment is reduced by 20%.
The GSEs may not purchase mortgages for working farms or ranches, but they do buy mortgages for residential property in rural settings — even if they have some agricultural characteristics.
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