Final Rules on Foreclosure Protections – Delinquency and Multiple Loss Mitigation Procedures

On August 4, the CFPB issued Final Rules providing foreclosure protections.  The Rules, consisting of 901 pages, address foreclosure protections, successors in interest, borrowers in bankruptcy, loss mitigation, servicing transfers, and loss mitigation applications.  The Rules consist of a number of amendments to Regulation X and Regulation Z, their respective Official Interpretations, and model forms and clauses.  Along with the … Read More

Final Rules on Foreclosure Protection – Borrower’s In Bankruptcy

On August 4, the CFPB issued Final Rules providing foreclosure protections.  The Rules, consisting of 901 pages, address foreclosure protections, successors in interest, borrowers in bankruptcy, loss mitigation, servicing transfers, and loss mitigation applications.  The Rules consist of a number of amendments to Regulation X and Regulation Z, their respective Official Interpretations, and model forms and clauses.  Along with the … Read More

Final Rules on Foreclosure Protections – Successors in Interest

On August 4, the CFPB issued Final Rules providing foreclosure protections.  The Rules, consisting of 901 pages, address foreclosure protections, successors in interest, borrowers in bankruptcy, loss mitigation, servicing transfers, and loss mitigation applications.  The Rules consist of a number of amendments to Regulation X and Regulation Z, their respective Official Interpretations, and model forms and clauses.  Along with the … Read More

Final Rules on Foreclosure Protections – Loss Mitigation Procedures

On August 4, the CFPB issued Final Rules providing foreclosure protections.  The Rules, consisting of 901 pages, address foreclosure protections, successors in interest, borrowers in bankruptcy, loss mitigation, servicing transfers, and loss mitigation applications.  The Rules consist of a number of amendments to Regulation X and Regulation Z, their respective Official Interpretations, and model forms and clauses.  Along with the … Read More

Final Rules on Foreclosure Protection – Servicing Transfers

On August 4, the CFPB issued Final Rules providing foreclosure protections.  The Rules, consisting of 901 pages, address foreclosure protections, successors in interest, borrowers in bankruptcy, loss mitigation, servicing transfers, and loss mitigation applications.  The Rules consist of a number of amendments to Regulation X and Regulation Z, their respective Official Interpretations, and model forms and clauses.  Along with the … Read More

SBA Proposed Rule

The Small Business Administration is issuing a proposed rule amending several regulations relating to the 7(a) and 504 loan programs used by banks. The proposed changes are intended to streamline SBA processes and update or remove outdated provisions – for example, by replacing the Certified Lenders Program with SBA “delegated authority” criteria. The proposed changes include redefining cooperative businesses as … Read More

Going Digital: Strategies for Providing Digital Services

NCUA’s Office of Small Credit Union Initiatives issued “Going Digital:  Strategies for Providing Digital Services,” which provides step-by-step instructions on creating a strategic plan for analyzing members’ needs and tailoring digital products to meet those needs.  The guidebook also details potential advantages and disadvantages to members and credit unions. While most of our credit unions provide a wide array of … Read More