The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.
In the final weeks before the new Republican administration takes over, the CFPB’s rulemaking process is expected to slow, but enforcement activity could increase, according to industry attorneys.
Among the changes expected in Trump 2.0, a new bureau director, and a focus on technical requirements of statutes and regulations and less aggressive statutory and regulatory interpretations.
The credit union agreed to pay $95 million in consumer refunds and fines to resolve a CFPB investigation that found the company illegally charged overdraft fees.
The bureau’s advisory opinion on medical debt collection practices violates the Administrative Procedure Act as it creates new rules, according to an association representing credit and collection professionals.
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