CFPB Outlines Best Practices for COVID-Related MSR Transfers April 27, 2020 Yemeng Yang The CFPB will consider "good-faith efforts" by mortgage servicers to prevent consumer harm during a servicing transfer...Read More
A Safe Bet: CFPB Expected to Extend GSE Patch Amid Pandemic April 24, 2020 Yemeng Yang However, the question remains whether the bureau will announce significant changes to the current framework... Read More
Loss Projections Rise for Recent Auto Loan ABS April 23, 2020 Yemeng Yang The coronavirus-triggered lockdown has prompted rating agencies to increase loss expectations for newly issued auto ABS. Read More
CFPB Expected to Extend GSE Patch Amid Coronavirus April 23, 2020 Yemeng Yang The CFPB is likely to extend the qualified-mortgage patch, but the question remains whether it will make changes to the current QM framework.Read More
As Forbearance Requests Grow, the Feds Send a Reminder to Mortgage Servicers April 22, 2020 Yemeng Yang Regulators have assured financial institutions they will not bring public enforcement actions when an institution makes a good faith effort to support borrowers...Read More
Negative Actions Taken Over CLO Issuers Due to COVID-19 April 16, 2020 Yemeng Yang The collateralized loan obligation market has been hit hard by the coronavirus pandemic as it sees a tidal wave of issuer downgrades.Read More
Short Takes: How Much Time is Left for NBs? / How the Payment Plumbing Works / Getting DC’s Attention Through Failure / FHFA and CFPB Cooperate / HMDA Update / Correction April 16, 2020 Paul Muolo, Dennis Hollier, and Yemeng Yang If a large nonbank fails, it might get Washington's attention...Read More
Consistent Post-Forbearance Options Needed for the Industry April 16, 2020 Yemeng Yang A lack of consistent post-forbearance options may pose additional risks for the industry, particularly for loans owned by Fannie and Freddie.Read More
Fair Lending Risks in Forbearance Handling April 16, 2020 Yemeng Yang Fair lending risks exist in servicers' handling of forbearance requests if certain protected classes are found to be disadvantaged.Read More
At the CFPB, Mortgage Complaints Fell for the Third Consecutive Year April 15, 2020 Yemeng Yang Overall, mortgage citations accounted for only 8% of total gripes...Read More