June 10 & 11, 2021
If you missed the Expo Town Hall Meeting with Vince Valvo, you can watch it on the CMBA Youtube Channel - Video
The CMBA is your Legislative Resource
Weekly Legislative Report from Gaffney Bennett & Assoc.
April 9, 2021
CMBA Legislative Committee chairs, Lobbyist and Counsel - Video
Today, the Bureau issued a notice of proposed rulemaking (2021 Mortgage Servicing COVID-19 Proposed Rule) to propose amendments to the Bureau’s Mortgage Servicing Rule that would provide additional assistance for borrowers impacted by the COVID-19 emergency. The proposal, if finalized, would generally add to existing Regulation X provisions to help address COVID-19-related hardships. This includes adding:
Information servicers would provide to certain borrowers during live contacts;
Loan modification options servicers may offer based on an incomplete loss mitigation application in certain circumstances; and
Establishing a temporary COVID-19 emergency-related pre-foreclosure review period, added to existing foreclosure protections.
The Bureau has also provided a Fast Facts summary of the proposed rule and an Unofficial Redline of the proposed amendments to Regulation X to assist commenters.
You can access the proposed rule here: www.consumerfinance.gov/rules-policy/rules-under-development/protections-for-borrowers-affected-by-the-covid-19-emergency-under-the-real-estate-settlement-procedures-act-regulation-x/.
You can access the Fast Facts summary and Unofficial Redline here: www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/mortserv/.
The CMBA Technology in Mortgage Banking Committee
Connecticut Mortgage Bankers Association, Inc.
185 Main Street, Suite 418
New Britain, CT 06050
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