CFPB proposes rule for mortgage servicing and loss mitigation
The proposed amendments to RESPA seek to improve borrower protections and streamline processes, and would not apply to small servicers.
The proposed amendments to RESPA seek to improve borrower protections and streamline processes, and would not apply to small servicers.
According to HUD, the proposed rule would increase the availability of affordable homes and enhance the stability of communities.
Paycheck advance products would be considered consumer loans and therefore subject to TILA and Regulation Z disclosure requirements.