On June 28, 2021, the CFPB issued its Mortgage Servicing COVID-19 Final Rule (the “Final Rule”).  The Final Rule, which amends Regulation X, is effective August 31, 2021, and comes at the same time as certain related updates from other Federal agencies.  We discuss those topics, along with an overview of the Final Rule, below.… Continue Reading

As a follow up to a January 2014 meeting with private student loan lenders and servicers convened by Director Cordray and Education Secretary Arne Duncan, the CFPB sent letters last week to certain “market participants” requesting information about current and planned loan modification options.  The letters reference guidance on private student loans with graduated repayment terms also issued last week by the CFPB jointly with the Fed, FDIC, NCUA, and OCC.… Continue Reading