The court found that the California regulator’s disclosure requirements were lawful under the First Amendment and were not preempted by federal law.
The guidance emphasizes the importance of managing significant financial and operational risks associated with climate change for New York State-regulated banking and mortgage institutions.
Updates to its mortgage loan underwriting system, Desktop Underwriter, over the Jan. 20 weekend will support changes made to FHA and VA loan limits.
The rule requires servicers to provide additional records when transferring a mortgage secured by a property within a proclaimed emergency zone.
The Pennsylvania-based nonbank medical debt collection company is permanently banned from debt collection, purchasing or selling of any debts, or any consumer reporting activities.
The asset-size exemption thresholds were adjusted based on a 4.1 percent increase in the average year-over-year CPI-W.
According to the entry, which noted reflects the authors’ views, and not those of the CFPB, refinance mortgage originations decreased amid 2022’s rapid interest rate hikes, and notably favored cash-out refinances over non-cash-out options.
The updates include new financial reporting requirements for large non-depository sellers/servicers and a revised policy for loans transferred to an LLC, among other things.
Learn more about this topic and others in the NMLS Resource Center.
Learn more about this topic and others in the NMLS Resource Center.
Learn more about this topic and others in the NMLS Resource Center.
The OCC found that there was a 0.1 percent increase in “current and performing” mortgages and a 0.2 percent drop in mortgages that are seriously delinquent from the previous year.
As part of the agreement, the platform is barred from trading securities and commodities in New York or from making its platform available to New York residents.
Adoption of the new rules will not result in any substantive changes for Illinois Collection Agency licensees but will mirror the previous rules governing collection agencies.
The roundtable featured speakers from the president’s council, the CFPB, the Center for Medicare and Medicaid Services, DHHS, the Treasury, and representatives from California, Colorado, and Washington.
The Act specifically prohibits hospitals, health care professionals, and ambulances from reporting medical debt to credit agencies.
With this change, the Department of Financial and Professional Regulation proposes to repeal the existing regulations from the Division of Professional Regulation.
The regulation generally aligns with the CSBS Money Transmitter Model Law, but also includes unique provisions such as an agent of the payee exemption.
In their complaint, the plaintiffs argued that the regulations violated the First Amendment and were preempted by TILA.
The CFPB stressed the importance of regulatory consistency of consumer financial products and services across federal and state law.